"Middle River - Victory Villa"

REAL ESTATE AUCTION

“Victory Villa”

RAMBLER
– On 0.13 +/- Acre –

Sale On Premises
2 CONTROL COURT
Baltimore Co., MD 21220

WEDNESDAY, JULY 19, 2017
AT 12:15 P.M.

– Suggested Opening Bid: $25,000 –

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:
2 Control Court is located in the Victory Villa neighborhood of Middle River in eastern Baltimore County. The property is located off of Compass Road and north of Martin Boulevard (MD-700). Neighborhood housing is a mixture of detached homes, originally built during World War II to house the workers at the nearby Glenn L. Martin aircraft plant, now Martin State Airport. According to the Baltimore County government web site, nearby public schools are Victory Villa Elementary, Middle River Middle and Kenwood High. Shopping, public transportation and community services are within walking distance. Access to the Baltimore Beltway (I-695) is about five minutes drive.

SITE:
Rectangular lot: 5,488 Sq Ft., compromising approximately 0.13 acre, more or less

Zoning DR 5.5, Residential

Street parking

Public utilities

IMPROVEMENT DESCRIPTION:
One story ranch home – according to public tax records, the home was constructed in 1942 and contains 696 square feet of living area. The home features aluminum windows and is arranged as follows: living room, kitchen, extra room, 2 bedrooms and bath. The property is in need of a full renovation.

ANNUAL REAL ESTATE TAXES:
Published annual real estate taxes are $1,587, based on a full value assessment of $106,300. 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:
The property is in fee simple; and is being sold free and clear of all liens.

TERMS OF SALE:
A $2,500 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, 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. 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. 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.

No Buyer’s Premium!