ONLINE REAL ESTATE AUCTION
– Starting Bid: $30,000 –
– Rented for $1,200/Month –
748 N. EDGEWOOD STREET
Off Gelston Drive
Baltimore City, MD 21229
WEDNESDAY, MARCH 24, 2021
FRIDAY, MARCH 26, 2021 AT 12:00 P.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.
748 N. Edgewood Street is located in the Edgewood neighborhood in West Baltimore City. Surrounding neighborhoods include Edmondson Village, Uplands and Allendale. The home is located off of Edmondson Avenue, Route 40, one of Baltimore’s main east/west thoroughfares. Within a mile, and on Edmondson Avenue, residents have the convenience of grocery stores, restaurants, entertainment and public libraries. Within a quarter mile of the home is Leakin Park, the largest woodland park in an East Coast city. Nature lovers can find thrills and excitement throughout the park with it’s many trails, gardens and colorful history. Commuters can take advantage of bus routes on Route 40, I-695 is 3 miles to the west and Hilton Parkway is within a half mile.
For more information, please see:
Neighborhoods – livebaltimore.com
Lot – 18′ x 82’6″. Plat
Partially enclosed rear yard with alley access. Parking potential.
All public utilities
Zoned R-7, residential
Two story, inside group brick porchfront townhome. According to published tax records the property was constructed in 1925 and contains 1,224 square feet of living area and 612 square feet of basement space. The property is rented on a month-to-month tenancy to a ten-year tenant paying $1,200 per month. $1,010 of the rent is subsidized through HABC. Tenant is current. MDE lead inspection certificate
Please complete a Waiver and Confidentiality Agreement form to view the lease and HABC information.
$78 ground rent payable in semi-annual installments on 6/5 and 12/5; sold free and clear of all liens. Baltimore City Deed Book Liber FMC 11570, folio 164.
Published annual real estate taxes are $826, based on a full value assessment of $35,000.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier’s check or wire payment, will be required of the purchaser by 4:00 p.m. on Friday, March 26, 2021, 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, rents, 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. Security deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing leases of the tenants in place, easements, agreements, restrictions or covenants of record affecting same, if any. The Property will be sold subject to Baltimore City violation notices, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. 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. A 5% buyer’s premium will be added to the final bid price.