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Featuring Live & Online Simulcast Bidding
– $50,000 Opening Bid –
Two Story, Porchfront
3 Bedrooms ◆ 1.5 Baths ◆ Garage
Rented for $1,218 /Month
– Lead Free –
519 E. COLD SPRING LANE
Baltimore, MD 21212
Online Bidding Opens
MONDAY, MAY 30, 2022
Live Onsite Auction
THURSDAY, JUNE 2, 2022
AT 1:00 P.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.
519 E. Cold Spring Lane is located in northern Baltimore City, one block east of York Road (MD-45). The surrounding neighborhood is comprised of two story brick townhomes, which are owner and tenant occupied. The location is within walking distance of public transportation, shopping, dining and community services.
Rectangular lot – 16’6″ x 85’8″. Plat
Zoning R-6, residential
Rear driveway access to one-car built-in garage
Two story end-of-group brick townhome, built in 1937, containing 1,298 square feet of living area, 640 square feet of basement space, 240 square foot garage, with covered front porch, composition shingle roof, vinyl-clad double-hung windows, rear deck and a full concrete block foundation.
The home contains a living room, dining room and kitchen, on the first floor; 3 bedrooms and bath, on the second; full basement with half-bath and utility room; wood floors, gas forced air heat and central air conditioning.
The property is registered as lead free and currently rented for $1,218 per month on a month-to-month basis. Lease
The property is in fee simple and sold free and clear of liens. Baltimore City Deed Book FMC 10468, Page 477. Also see the case in the Circuit Court for Baltimore City, Case No. 24-C-07-0004461EJ, for ground rent merger information.
Published annual real estate taxes are $1,392, based on a full value assessment of $59,200. 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.
Onsite Auction Bidders – A $5,000 deposit, payable by cashier’s check, will be required of the Purchaser at time and place of sale. If necessitated by price, the deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer’s office.
Online Auction Bidders – A 10% deposit, payable by wire transfer or cashier’s check, will be required of the Purchaser by 4:30 p.m. on the date 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. All adjustments, including taxes, rentals, 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 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 rights of the tenant in possession. 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. A 5% buyer’s premium will be added to the final bid price.