"Frankford"

REAL ESTATE AUCTION

UPDATED, TWO STORY
TRADITIONAL HOME
4-5 Bedrooms – 2.5 Baths – 0.11± Acre

Sale on Premises
4406 MARX AVENUE
Off Mannasota Avenue, Near Belair Road
Baltimore City, MD 21206

TUESDAY, NOVEMBER 12, 2019
AT 11:00 A.M.

– Suggested Opening Bid: $75,000 –

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:
4406 Marx Avenue is located in the Frankford neighborhood in northeast Baltimore City. Frankford is conveniently located in close proximity to major commuter routes throughout the area, including I-95, I-895, the Baltimore Beltway (I-695), Belair Road and Moravia Road. Belair Road provides ample access to retail and dining options, and the Hamilton-Lauraville Main Street corridor along Harford Road is also within 1.5 miles. Surrounding properties are comprised predominantly of detached traditional homes with a variety of architecture, most of which were constructed between the early and mid 1900s.

For more information about the area, please visit:
https://livebaltimore.com/neighborhoods/frankford/

SITE:
Lot size: 42’2″ x 116’11”

Fenced rear yard

All public utilities

Zoned R-3 Residential

IMPROVEMENTS:
Two story traditional home with covered front porch – the home was constructed in 1927, contains 1,664 square feet of living area and 808 square feet of basement space. The home has been fully updated and is arranged as follows: living room, dining room, kitchen and full bath; on the first floor; 4 bedrooms and full bath, on the second floor; roughed-in bonus room or additional bedroom, half bath and utility room in the basement.

TAXES:
Published annual real estate taxes are $3,037.32, based on a full value assessment of $128,700.

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

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

SUMMARY TERMS OF SALE:
Please refer to the contract of sale for complete terms and conditions. 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, 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 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. It shall be the responsibility of the purchaser to obtain physical possession of the property. Purchaser waives the right of inspection for lead paint, as provided under current Federal and State law. 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. 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. Time is of the essence. A 5% buyer’s premium will be added to the final bid price.