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A $5,000 deposit or 10% of the purchase price, whichever is greater, payable by cashier’s check or wire transfer, will be required of the Purchaser by 3:00 p.m. on the day of auction. When you register for an online auction, a “ping” will be placed on your credit card and immediately voided, you will not be charged the deposit amount. A buyer’s premium of $2,500 or 10% of the bid price, whichever is greater, will be added to the final bid and become part of the contract purchase price. For complete Terms Of Sale, see the Summary Terms Of Sale at the bottom of this page and see the Sample Contract.
This Auction has been CANCELED.
Sold prior to the auction.
To the Highest Bidder Above $2,500
1.2161± Acres ◆ Zoned R1
Tax Map 24, Parcel 889
Tax Account #18070102
MAGOTHY BRIDGE ROAD
(Adjacent to 329 Magothy Bridge Road)
Anne Arundel County, MD 21122
– CANCELED –
Online Bidding Opens
MONDAY, AUGUST 28, 2023 Online Bidding Closes
WEDNESDAY, AUGUST 30, 2023
AT 11:45 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.
The property is located off Magothy Bridge Road, just east of Edwin Raynor Boulevard, in the Pasadena area of northern Anne Arundel County. The lot is about one-half mile south of MD-100 and opposite Beachwood Waterfront Park. The area is scenic, yet convenient to shopping and public services. Area housing is a mixture of detached types and styles, ranging from modest bungalows to $1,000,000 plus homes.
The auction lot, comprising approximately 1.2161 acres, is located on a private driveway, shared with 329 Magothy Bridge Road. The property is wooded and slopes down to the Magothy River. The parcel is irregularly shaped, approximately 163′ wide by 385′ deep. Water frontage is estimated to be approximately 120′.
According to a plat, dated May 1994, prepared for the adjacent property owner, the auction lot is “not buildable and cannot become a building lot.” The sellers nor the auctioneers have any information as to how that statement was derived. No representation or warranty is made as to the potential development or buildability of the lot. Public water and sewer are not believed to be available.
PROSPECTIVE PURCHASERS INSPECTING THE LOT – PLEASE DO NOT DISTURB THE HOMEOWNER AT THE END OF THE SHARED DRIVEWAY!
The property is in fee simple and sold free and clear of liens. Anne Arundel County Deed Book 34546, Page 457.
Published annual real estate taxes are $2,049, based on a full value assessment of $167,500.
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 10% of the purchase price, whichever is greater, payable by cashier’s check or wire transfer, will be required of the Purchaser by 3:00 p.m. on the day of auction. 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, WHERE 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 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 or buildability of the property, including but not limited to the environmental condition thereof. The Seller makes no express or implied warranty that the property can be used for any specific purpose. 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. Time is of the essence. A buyer’s premium of $2,500 or 10% of the bid price, whichever is greater, will be added to the final bid and become part of the contract purchase price.
Sold Prior To The Auction - price to be disclosed at settlement.