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$15,000 Opening Bid
2814 W. COLD SPRING LANE
Baltimore City, Maryland 21215
TUESDAY, FEBRUARY 22, 2022
THURSDAY, FEBRUARY 24, 2022
AT 11:15 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.
2814 W. Cold Spring Lane is located in the Towanda-Grantley neighborhood in northwest Baltimore City. Surrounding neighborhoods include Central Park Heights, Lucille Park, Ashburton and East Arlington. The relatively small neighborhood is comprised predominantly of brick townhomes, with detached homes, apartments and commercial properties scattered throughout. Towanda Park and Recreation Center and a Public Charter School are located at the south end of the neighborhood, and the West Cold Spring Metro station is at the west side of the neighborhood, about three blocks from the property. Major employers in the area include Sinai Hospital and the Social Security Administration. Access to Downtown is good, via Metro, Bus Service, Reisterstown Road and I-83. Shopping, dining and neighborhood services are located along Cold Spring Lane, Reisterstown Road and Park Heights Avenue.
Lot size – 20′ x 85’6″, more or less, according to public tax records. Plat
10′ rear alley access
Zoned R-6 Residential
Two story brick inside-group covered porchfront townhome – constructed in 1920, according to public tax records. The home is believed to contain 7 rooms (4 bedrooms), bath and basement. The home requires a complete renovation.
$90 annual ground rent, due in semi-annual installments on 2/1 and 8/1; and sold free and clear of liens.
Published annual real estate taxes are $723.74, based on a full value assessment of $30,667.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $3,000 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by 4:00 P.M. on the day of the 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, 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 Property will be sold subject to Baltimore City violation notices, if any. 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% or $1,500 buyer’s premium, whichever is greater, will be added to the final bid price.