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$25,000 Opening Bid
38A BROOKS TERRACE ROAD
Anne Arundel County, MD 21060
Online Bidding Opens
MONDAY, JANUARY 10, 2022
Online Bidding Closes
THURSDAY, JANUARY 13, 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.
Brooklyn Terrace is located east of Ritchie Highway, south of the Baltimore Beltway (I-695), west of MD-10 and north of the MVA, in the Glen Burnie area of northern Anne Arundel County. The neighborhood is convenient to shopping, highway access, public amenities and employment centers. Homes in Brooklyn Terrace are predominantly well maintained single-family dwellings. According to Bright MLS, only two homes have sold in the neighborhood during the past year – 38 Brooks Terrace Road (next door to the auction lot) for $300,000 and 26 Brooks Terrace Road for $255,000. Nearby public schools are North Glen Elementary, Lindale Middle and North County High, according to the Anne Arundel County online school locator.
Level lot – 50′ x 100′, comprising 5,000 square feet, located in a well-established subdivision.
Zoning R5, residential
Public water and sewer
The property is in fee simple and sold free and clear of liens. Anne Arundel County Deed Book RPD 10085, Page 359.
Published annual real estate taxes are $1,195, based on a full value assessment of $81,700. 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: Assessment Appeal Process – dat.maryland.gov
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
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 10% buyer’s premium will be added to the final bid price.