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REAL ESTATE AUCTION
$25,000 Suggested Opening Bid
– On 0.12± Acre –
Sale On Premises
1217 FREDERICK STREET
Near Schlund Avenue
Allegany County, MD 21502
FRIDAY, JULY 27, 2018
AT 12:00 NOON
One and one-half story bungalow with covered front porch – the home was constructed in 1935, contains 792 square feet of living area and 792 square feet of basement space, according to public tax records. The home is arranged as follows:
Asphalt shingle roof
Vinyl-clad replacement windows
Aluminum downspouts and rain gutters
Covered front and rear porches
Gas forced air heat
Lot size – 0.12 acre, more or less, according to public tax records
Off street parking
Believed to be serviced by public water and sewer
Title is in fee simple; being sold free and clear of all liens
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.
Published annual real estate taxes are approximately $1,332.60 ($628.03 for Allegany County, and $704.57 for the City of Cumberland) based on a full value assessment of $66,500. 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:
TERMS OF SALE: A $3,000 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 by 12:00 Noon, Monday, July 30 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 8% 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. Purchaser agrees to waive any right of rescission under Maryland Homeowners Association and/or Condominium Law, if applicable. 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. A 4% buyer’s premium will be added to the final bid price.