Email: info@ajbillig.com
6500 Falls Road, Baltimore, MD 21209
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Gilbert Rosenthal, P.A., Attorneys
Arnold, MD 21012
ATTORNEY’S AUCTION
– $150,000 Suggested Opening Bid –
“Carvel Beach”
0.95± ACRE
WATERFRONT PARCEL
Fronting 100’± Along Back Cove
Zoned R5, Residential
Sale On Premises
159-161
CARVEL BEACH ROAD
Off Fort Smallwood Road
Anne Arundel County, MD 21226
FRIDAY, SEPTEMBER 15, 2017
AT 2:00 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.
LOCATION:
159-161 Carvel Beach Road is an unimproved residentially zoned parcel located in the Pasadena area of northern Anne Arundel County. The property is located along Back Cove, north of Nabbs Creek west of Stoney Creek and the Patapsco River. The surrounding area is a mixture of well established water-oriented residential neighborhoods and marinas. The community commercial district is along Fort Smallwood Road (MD-173). The neighborhood is convenient to the Baltimore Beltway (I-695) and MD-10, providing access to employment centers throughout the region. Nearby public schools are Solley Elementary, George Fox Middle and Northeast High, according to the Anne Arundel County government web site.
SITE:
100′ x 420′ with approximately 100′ of frontage along Back Cove (formerly known as Weldings Cove), comprising 0.95 acre of land.
Record Plat
Public water and sanitary sewer are available.
NOAA Depth Chart indicated water depths of 9′ to 11′ in Back Cove
The property is fairly level and has the remnants of some tenant housing.
The parcel was originally comprised of four lots and is located in an R5, residential zoning district.
For more information, see: Anne Arundel County zoning.
The property will be sold as an entirety.
TITLE:
The property is known and designated as:
TAXES:
159 Carvel Beach Road – published annual real estate taxes are $2,967, based on a full value tax assessment of $257,900.
161 Carvel Beach Road – published annual real estate taxes are $2,916, based on a full value tax assessment of $252,900.
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:
http://dat.maryland.gov/realproperty/Pages/Assessment-Appeal-Process.aspx
FINANCING:
The seller will finance 80% of the purchase price, with interest only payments for one year, at an interest rate of 5% per year. Purchasers are under no obligation to use the financing and may obtain their own or pay cash.
TERMS OF SALE:
A $15,000 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 by 12:00 Noon, Monday, September 18, at the Auctioneer’s office. 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 waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. 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. Time is of the essence.
No buyer’s premium.
