REAL ESTATE AUCTION
“The Fairmont 1001 Condominium”
Sale On Premises
1001 CHILLUM ROAD
Prince George’s County, MD 20782
THURSDAY, AUGUST 29, 2019
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.
1001 Chillum Road Unit 218 is located in “The Fairmont” condominium complex in West Hyattsville. Residents of the complex can enjoy assigned parking spots and a community pool. The unit is situated off of Riggs Road, a major thoroughfare, which features retail, dining and entertainment options. The condominium unit is conveniently located within a quarter mile of Washington DC. The Fort Totten Metro Station (1.5 miles) is one of the many public transportation options for commuters.
Two bedroom condominium unit located in The Fairmont condominium complex – constructed in 1955. According to public tax records the unit contains 1,003 square feet of living area.
In fee simple; sold free and clear of liens.
Monthly condominium fees are believed to be $934.70 and is believed to include utilities, trash removal and outdoor care.
Published annual real estate taxes are $1,162, based on a full value assessment of $87,333. 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:
– PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $5,000 deposit, payable by certified check or 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 finds 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, condominium or homeowners association fees, if any, 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, including those contained in the Declaration and Bylaws of the Fairmont 1001 Condominium. 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. Purchaser agrees to waive any right of rescission under Maryland Homeowners Association and/or Condominium Law, if applicable. 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.
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