"Curtis Bay"

 REAL ESTATE AUCTION 

– $10,000 Suggested Opening Bid –

TWO STORY
RENTAL TOWNHOME

Sale On Premises
4115 GRACE COURT
Off 1600 Olmstead Street
Baltimore, MD 21226

TUESDAY, OCTOBER 23, 2018
AT 11:00 A.M.

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:
The property is located in the “Curtis Bay” neighborhood of southern Baltimore City, near the Anne Arundel County line. The surrounding area is a mixture of land uses, with a strong residential rental market. Public transportation and major employers are within walking distance.

SITE:
Rectangular lot 16′ x 42′
All public utilities
Zoning R-7, residential

IMPROVEMENTS:
Two story, inside-group, frame townhome, containing 832 square feet of living area and 416 square feet of basement space, according to public tax records. The home contains a living/dining room, kitchen, 2 bedrooms and bath; gas heat; 100 amp. electrical service.

RENT/OCCUPANCY:
The home is currently rented for $480 per month to a long-term tenant, on a month-to-month basis. Lead paint risk reduction Certificate No. 165592. Purchaser will have the option of continuing the tenancy.

TITLE:
The property is sold free and clear of liens, subject to an annual $36 ground rent. Baltimore City Deed Book 1281, Page 373.

TAXES:
Published annual real estate taxes are $1,303, based on a full value assessment of $30,000. 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

SUMMARY TERMS OF SALE (please refer to the contract of sale for complete terms):
A $2,500 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. All adjustments, including taxes, rent, ground rent, 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 settlement 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.