"Pasadena"

 REAL ESTATE AUCTION 

$50,000 Suggested Opening Bid

BUNGALOW
– Renovation Needed –

Sale On Premises
1805 PARKSIDE DRIVE
Anne Arundel County, MD 21122

WEDNESDAY, OCTOBER 2, 2019
AT 12:15 PM

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:
The home is located in the Rockwood subdivision in eastern Anne Arundel County. The water rich community is perfect for residents that enjoy the outdoors. Fort Smallwood Park, located just half a mile away, hosts walking trails, playgrounds and beaches, in addition to a 380 foot fishing pier. Water enthusiasts can take advantage of the various marinas and boat slips located within close proximity. Lake Shore Plaza Shopping Center is located 4.2 miles away and contains various restaurants, grocery stores and banks, for the convenience of residents.

SITE:
Rectangular lot 0.186 acre
Zoning R2, residential
Private well and septic are believed to be at the property

IMPROVEMENTS:
One story bungalow. According to public tax records, the home was constructed in 1900 and contains 720 square feet of living space. The home is arranged as living room, kitchen, two bedrooms and bath.

Full renovation required.

TITLE:
The property is in fee simple and sold free and clear of liens. Liber 33338, folio 375.

TAXES:
Published annual real estate taxes are $2,327.32, based on a full value assessment of $179,567. 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

SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $5,000 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. 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. 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.