"Fells Point"

 REAL ESTATE AUCTION 

$75,000 Suggested Opening Bid

Two and One-Half Story
TOWNHOME
– Arranged For Two Units –

Sale On Premises
1709 BANK STREET
Near Broadway
Baltimore City, MD 21231

WEDNESDAY, DECEMBER 11, 2019
AT 1:15 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.

LOCATION:
1709 Bank Street is located in the Fells Point neighborhood, and is within the Fells Point National Historic District, a CHAP Historic District. The property is in a prime location, within close proximity of the Fells Point entertainment district, Harbor East, Little Italy, Downtown Baltimore and Johns Hopkins Hospital. Patterson Park, the recreational hub of Southeast Baltimore, is about 6 blocks east. Major employers, dining options, shopping and entertainment are all nearby. Eastern Avenue, one block south, provides easy access to I-83 (JFX) via President Street. I-95 and I-895 are also easily accessible via a number of routes.

For more information, please see:
https://livebaltimore.com/neighborhoods/fells-point/
https://www.fellspoint.us/
https://baltimore.org/neighborhoods/fells-point

SITE:
Rectangular lot – 16′ x 85′, more or less

All public utilities

Zoning R-8, residential
For more information, see the Baltimore City Zoning Code.

IMPROVEMENTS:
Two and one-half story inside group townhome arranged for two units – constructed in 1920 and containing 1,362 square feet of living area, according to public tax records. The first floor unit has been gutted and can be used as a storefront. The second floor unit includes two bedrooms, bathroom, kitchen and living room.

TITLE:
Subject to an annual $60 ground rent (unregistered); sold free and clear of all liens

TAXES:
Published annual real estate taxes are $4,178.84 based on a full value assessment of $176,900. 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 $7,500 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. 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. A 5% buyer’s premium will be added to the final bid price.