"Laurel - Oak Crest"

Terry K. Sullivan, Attorney
Holloway & Sullivan, LLC
One North Charles Street – Suite 2525
Baltimore, MD 21201

ESTATE SALE

“Oak Crest”

RANCH HOME
On 0.60+/- Acre
– Subdivision Potential –

Sale On Premises
8609 MULBERRY STREET
Near US-1 (Baltimore Avenue)
Prince George’s County, MD 20707

THURSDAY, JANUARY 11, 2018
AT 11:00 A.M.

– SUGGESTED OPENING BID: $50,000 –

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:
8609 Mulberry Street is located in the Oak Crest subdivision in Laurel, at the northeastern corner of Prince George’s County. Oak Crest is situated on the east side of US-1 (Baltimore Avenue), a short distance south of the City of Laurel Historic District. The home is within 4 miles of both I-95 and the Inter County Connector (MD-200). MARC train stations are also in close proximity. Abundant dining, shopping and services are available within walking distance. According to pgcps.org, nearby schools are James H. Harrison Elementary, Dwight D. Eisenhower Middle and Laurel High.

For more information about the area, please visit:
http://www.princegeorgescountymd.gov/2236/Portal
https://www.cityoflaurel.org/
http://www1.pgcps.org/

SITE:
Rectangular lot – 175′ x 150′, comprising 26,250 square feet or 0.60 acre, more or less

Mostly level lot with some mature trees

Asphalt and gravel driveway with carport

Zoned R-55 Residential
For more information, see the Zoning Code.

IMPROVEMENTS:
Ranch home – the home was constructed in 1940, contains 1,754 square feet of living area and 1,030 square feet of basement space. The home features masonry block construction, asphalt shingle roof and is arranged for 6 rooms (3 bedrooms), bath and basement. The home is in very poor repair, requiring complete renovation.

TAXES:
Current annual real estate taxes are $3,701 based on a full value assessment of $222,300. 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:
http://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

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

TERMS OF SALE:
A $7,500 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. 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. 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.

No Buyer’s Premium!

Terry K. Sullivan, Personal Representative
of The Estate of Bertha Brooks