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ONLINE REAL ESTATE AUCTION
$912 Per Month ♢ Section 8
932 LEMMON STREET
Off S. Schroeder Street
Baltimore City, MD 21223
MONDAY, JANUARY 17, 2022
THURSDAY, JANUARY 20, 2022 AT 11:15 A.M.
– Opening Bid: $30,000 –
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.
932 Lemmon Street is located in the Hollins Market neighborhood of Southwest Baltimore City. The property is also located within the Hollins-Roundhouse National Historic District, providing opportunities for historic tax credits. Surrounding neighborhoods include Barre Circle, Washington Village – Pigtown, Poppleton and Union Square. Neighborhood attractions include Hollins Market itself, which is one block north along Hollins Street, and the B & O Railroad Museum, 0.5 block south and east. Nearby major employers include the University of Maryland, whose Baltimore Campus and Biotech Park are both within one-half mile. The location also affords excellent proximity to I-395, I-95 and MD-295, providing excellent access throughout the area.
Lot – 12′ x 63′, more or less. Plat
Fenced rear yard
All public utilities
Zoned R-8, Residential
Two story end-of-group townhome. According to public tax records, the property was constructed in 1900 and contains 772 square feet of living area and 336 square feet of basement space. The property is rented to a Section 8 month-to-month tenant for $912 per month. Tenant pays $221 per month and Section 8 pays $691. MDE Lead Inspection Certificate
Please complete a Waiver and Confidentiality Agreement form to view the lease.
In fee simple; sold free and clear of liens. Baltimore City Deed Book Liber FMC 508, Folio 6.
Published annual real estate taxes are $2,634.54, based on a full value assessment of $111,633. 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 $5,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by 4 P.M. on Thursday, January 20, 2022 (the bid closing). 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, 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 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.