"Oliver"

ONLINE REAL ESTATE AUCTION
– Starting Bid: $5,000 –

TWO STORY
TOWNHOME

Known As:
1603 E. LANVALE STREET
Off N. Broadway
Baltimore City, MD 21213

BIDDING OPEN:
FRIDAY, APRIL 16, 2021

BIDDING CLOSE:
MONDAY, APRIL 19, 2021 AT 11:00 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.

LOCATION:
1603 E. Lanvale Street is located in the Oliver neighborhood in East Baltimore City. Surrounding neighborhoods include Gay Street, Broadway East and East Baltimore Midway. The neighborhood is within close proximity to Johns Hopkins Hospital and downtown Baltimore City. Several large projects and development initiatives are also within a half mile of the home. The East Baltimore Development Initiative (EBDI) and large projects such as the redevelopment of the A. Hoen & Co. Lithograph building are prominent drivers in the revitalization and rebuilding of East Baltimore. Various bus routes and a metro line are all within a 15 minute walk. Major employers in the area include Johns Hopkins Hospital, Mid-Atlantic Baking Company and Ferguson Plumbing Supply.

For more information, please see:
Neighborhoods – livebaltimore.com

SITE:
Lot – 13′ x 75′, more or less. Plat

All public utilities

Zoned R-8

IMPROVEMENTS:
Two story inside group townhome constructed in 1913, according to public tax records. The home is arranged for living room, dining room and kitchen, on first floor; 3 bedrooms and bath, on second floor, unfinished basement. The property is vacant and needs renovation.

TITLE:
$69 ground rent payable in semi-annual installments on 4/12 and 10/12; sold free and clear of liens. Baltimore City Deed Book FMC 11487, folio 38.

TAXES:
Published annual real estate taxes are $629.34, based on a full value assessment of $26,667.

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 Monday, April 19, 2021 at 4:00 P.M. 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 and 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. The Property will be sold subject to Baltimore City violation notices, 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. 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. Subject to a 5% buyer’s premium or $1,000 minimum fee.