"Chevy Chase - Somerset Heights"

 ESTATE AUCTION 

$500,000 Suggested Opening Bid

“Somerset Heights”

Brick, 4 Bedroom, 3 Bath
SPLIT-LEVEL HOME
On 0.20± Acre Lot

Sale On Premises
4909 FALSTONE AVENUE
Montgomery County, MD 20815

WEDNESDAY, JUNE 6, 2018
AT 12:00 NOON

NOTE: The information contained herein has been obtained from sources deemed reliable and is believed to be accurate. However, no express or implied warranty is made or may be inferred from any such representation. Dimensions, square footage and acreage contained herein are more or less. Prospective purchasers are encouraged to perform their own due diligence, in advance of the auction, regarding the permitted uses of the property.

LOCATION:
Somerset Heights is located within the incorporated town of Somerset, in Montgomery County, Maryland. The neighborhood is south of Bethesda, north of the Maryland-DC line, west of Wisconsin Avenue and east of River Road. Most homes in Somerset Heights were built in the 1950s, although some date to the early 1900s. Extensive renovation of existing properties and new construction is taking place in the neighborhood. Please see http://www.townofsomerset.com for community information and history.

Nearby public schools are Somerset Elementary, Westland Middle and Bethesda-Chevy Chase High, according to the Montgomery County Schools website. The Friendship Heights Metro Station is less than one mile away. Neighborhood parks are within walking distance, as is the Somerset Swim Club. The neighborhood is convenient to shopping, entertainment venues, employment centers and the Capital Beltway (I-495).

SITE:
Rectangular lot – 68.88′ x 125′, comprising 8,610 square feet or 0.20 acre
Zoning R60, residential
All public utilities
Concrete four-car driveway leading to one-car carport with built-in storage shed

IMPROVEMENTS:
Brick split-level rancher, built in 1955, containing 2,463 square feet of living area, according to public tax records.

Exterior – Brick facade with upper level siding, composition shingle roof, aluminum rainspouts, vinyl-clad double hung windows, concrete block foundation

Interior – plaster walls and carpet over wood flooring

Entry Level

• Foyer – ceramic tile
• Living Room – carpeting over wood, large picture window, cathedral ceiling
• Dining Room – ceramic tile
• Eat-in Kitchen – vinyl, original wood cabinets, laminate counters, gas range, dishwasher, wall oven, refrigerator

Upper Level

• Master Bedroom – carpeting, double closets
• Master Bath – ceramic tile, shower
• Bedroom #2 – wood floor
• Bedroom #3 – wood floor
• Full Hall Bath, also adjoins Bedroom #2, ceramic tile
• 2 – Linen Closets
• Crawl Space Storage

Lower Level – at grade in rear

• Family Room – carpeting, paneling, wood burning fireplace, outside exit
• Bedroom #4 – double closet, vinyl tile
• Bathroom #3 – ceramic tile, shower
• Laundry/Utility Room – vinyl tile, outside exit, utility sink, washer and dryer

Mechanical – gas forced air heat, central air conditioning, 50-gallon gas water heater

Cosmetic repairs and updating are needed.

TITLE:
The property is in fee simple and sold free and clear of liens. Montgomery County Deed Book 29504, Page 90.

TAXES:
Published annual real estate taxes are $12,664, based on a full value assessment of $1,066,600. Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information:
http://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

TERMS OF SALE:
A $50,000 deposit, payable by cashier’s check, will be required of the purchaser at time and place of sale. The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office. Deposit funds shall be held by A. J. Billig & Co., LLC. Balance to be paid in cash at settlement, which shall take place within 45 days. If payment of the deposit or balance does not take place within the specified time, the deposit shall be forfeited and the property may be resold at the risk and expense of the purchaser. Interest to be charged on the unpaid purchase money, at the rate of 12% per annum, from date of contract to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on a monthly or annual basis, and sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of contract and assumed thereafter by the purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes the risk of loss from the date of contract forward. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. If the Seller is unable to convey good and marketable title, the purchaser’s sole remedy in law or equity shall be limited to the refund of the deposit. Upon refund of the deposit this sale shall be null and void and of no effect, and the purchaser shall have no further claim against the Seller or Auctioneers. Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law. Time is of the essence.

No buyer’s premium.