"Glen Burnie"

Featuring Live & Online Simulcast Bidding
– $125,000 Opening Bid –

BUNGALOW
On 0.28± Acre – Needs Renovation

– Seller Financing Available –

Known As
1016 ROSE ANNE ROAD
Near E. Furnace Branch Road
Glen Burnie, Anne Arundel County, MD 21060

Online Bidding Opens
MONDAY, JUNE 13, 2022

Live Onsite Auction
WEDNESDAY, JUNE 15, 2022
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:
1016 Rose Anne Road is located in the Glen Burnie area of northern Anne Arundel County. The neighborhood is positioned off E. Furnace Branch Road, between Ritchie Highway (MD-2) and MD-10. Proximity to the aforementioned streets provides excellent convenience, with a tremendous amount of employers, shopping, dining and services in the immediate area. Additional employment centers nearby include the BWI Thurgood Marshall commercial corridor, a number of marine terminals and port facilities, as well as Downtown Baltimore. Surrounding homes are a mix of styles and sizes. Area schools include Point Pleasant Elementary, Marley Middle and Glen Burnie High School.

For more information about the area, please visit:
Anne Arundel County, MD – www.aacounty.org
Anne Arundel County Public Schools – www.aacps.org

SITE:
Lot size – 0.28 acre, more or less, according to public tax records

All public utilities

Zoning: R5 Residential and C-4 Commercial. The property is slightly more than half within an R5 residential district on the south side, and slightly less than half in a C4 commercial district, according to the Anne Arundel County Zoning Map.

IMPROVEMENTS:
One and one-half story bungalow constructed in 1930, according to public tax records. Interior above grade square footage is believed to be in excess of 2,000 square feet, plus 1,352 square feet of basement space. Features include some hardwood floors, first floor bedrooms and floored attic for additional storage or potential finished space. The home is in need of full renovation, and arranged for a large living room, family room, dining room, kitchen, three bedrooms and bath, on the first floor; formerly finished basement arranged for a recreation room, full bath, individual storage, office and utility spaces.

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

TAXES:
Published annual real estate taxes are $2,675.25, based on a full value assessment of $214,833.

SELLER FINANCING IS AVAILABLE:
The seller will finance 75% of the purchase price (minimum down payment $60,000) at 7% annual interest, interest only, for one year with 2 points origination.

Alternatively, seller may be willing to provide a 100% construction loan, with $75,000 placed in a construction escrow account to be held by seller, subject to seller’s sole approval of borrower finances and draw schedule.

Purchasers are under no obligation to use this financing. Additional terms to those stated above are at the seller’s sole discretion to provide.

If you are interested in more details about the seller provided financing, please email charles@ajbillig.com.

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
Live Auction Bidders – a $15,000 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 within 24 hours at the Auctioneer’s office.

Online Auction Bidders – a 10% deposit, payable by cashier’s check or wire transfer, will be required of the purchaser by 4:00 p.m. on the day of auction, 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. 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.