"Derwood - Mill Creek South"

REAL ESTATE AUCTION

“Mill Creek South”

TWO STORY TOWNHOME
3 Bedrooms ✦ 2 Full Baths ✦ 2 Half Baths

Sale On Premises
7927 CAPRICORN TERRACE
Off Amity Drive
Montgomery County, MD 20855

FRIDAY, MARCH 29, 2019
AT 12:00 NOON

– Suggested Starting Bid: $150,000 –

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:
7927 Capricorn Terrace is located in the Mill Creek South subdivision in the Derwood area of Montgomery County. Derwood is situated between Rockville and Gaithersburg in the central part of the County. Mill Creek South is located north of the Intercounty Connector (MD-200), near the intersection of Shady Grove Road and Midcounty Highway (MD-124). The Shady Grove Metro station is approximately 3 miles to the south, and the Washington Grove MARC station is approximately 1.5 miles to the west. In addition to the ICC, Interstates 270 and 370 are also in close proximity. The neighborhood is comprised of single family detached homes and townhomes constructed mostly in the early 1980s. Ample dining, shopping and grocery options are available nearby, notably along the Shady Grove Road corridor. According to the Montgomery County Public Schools School Assignment Tool, nearby schools are Mill Creek Towne Elementary, Shady Grove Middle and Colonel Zadok Magruder High.

For more information about the area, please visit:
https://www.montgomerycountymd.gov/
https://www.montgomeryschoolsmd.org/

HOMEOWNERS ASSOCIATION:
Homeowners association dues are $60/month. HOA Resale Documents

SITE:
Lot – 20′ x 57′, more or less

Zoned residential

All public utilities

IMPROVEMENTS:
Two story inside-group townhome – the home was constructed in 1985, contains 1,240 square feet of living area and 600 square feet of basement space, according to public tax records.

Exterior
Aluminum siding
Asphalt shingle roof
Vinyl clad windows
Aluminum downspouts and rain gutters

Interior

First Floor:

• Entry foyer – laminate floor
• Kitchen with breakfast area
• Living room
• Powder room – laminate floor

Second Floor:

• Master bedroom with full en-suite bath
• Bedroom
• Bedroom
• Full hall bath

Basement/Mechanical:

• Walk-out at grade in rear
• Family room
• Storage room
• Electric heat pump and CAC
• 40 gallon electric water heater
• 200 amp. electrical service
• Sump pump

TITLE:
In fee simple; sold free and clear of liens.

TAXES:
Published annual real estate taxes are $3,150.41, based on a full value assessment of $263,500. 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:
https://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $20,000 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 Monday, April 1, 2019 at 12:00 noon. 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, homeowner association fees, 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, and subject to the Declaration and Bylaws of S.G.S. Homeowner’s Association. Purchaser assumes the risk of loss from the date of contract forward. The purchaser agrees to waive the right of rescission under Maryland Homeowners Association Law, having received and reviewed the Resale Package. 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 6% buyer’s premium will be added to the final bid price.