"Mount Clare"

REAL ESTATE AUCTION

TWO STORY
FORMSTONE TOWNHOME
~Currently rented for $700 per month~

Sale On Premises
328 S. MOUNT STREET
Off Wilkens Avenue
Baltimore City, MD 21223

TUESDAY, FEBRUARY 26, 2019
AT 11:00 A.M.

– Suggested Starting Bid: $5,000 –

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:
328 S. Mount Street is located in the Mount Clare neighborhood of southwest Baltimore City surrounded by the Carrollton Ridge, Union Square and Hollins Market neighborhoods. The neighborhood consists of primarily two story brick townhomes built in the late 1800’s and early1900’s. The property is 2 miles west of Baltimore’s Inner Harbor, providing access to local shopping, dinning and entertainment options of downtown Baltimore. Located just off Wilkens Avenue, this property allows for an easy commute to employment centers in both Baltimore City and Baltimore County.

For more information, please see:
https://livebaltimore.com/neighborhoods/

SITE:
Lot – 12′ x 79’3″, more or less

Fenced rear yard

All public utilities

Zoned residential

IMPROVEMENTS:
Two story inside group townhome – according to public tax records, the home was constructed in 1915. The home is believed to contain living room, dining room and kitchen, on the first floor; two bedrooms and bath, on the second floor; unfinished basement. The property is currently rented for $700 per month in two $350 installments. 8 year tenant with month to month lease. Tenant is responsible for all utilities. MDE Lead Inspection Certificate.

INTERIOR:

First floor:

• Living room – hardwood
• Dining room – hardwood
• Kitchen – laminate
• Bonus room – laminate with washer/dryer hookup with outside access

Second floor:

• Bedroom – hardwood
• Bedroom – hardwood
• Full bathroom – laminate

Basement/mechanical:

• Unfinished
• Oil tank
• Chimney
• Gas forced air heat
• 100 amp electric
• 40 gallon gas water heater

TITLE:
Subject to an annual $36 ground rent due in semi-annual installments on 1/26 and 7/26; sold free and clear of liens. Liber 8702, Folio 470.

TAXES:
Published annual real estate taxes are $892.53, based on a full value assessment of $38,000. 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:
https://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx

TERMS OF SALE:
A $2,500 deposit, payable by 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 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, 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. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions or covenants of record affecting same, if any and subject to the lease of the tenant in place. 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!