Featuring Live & Online Simulcast Bidding
$150,000 Opening Bid
ONE STORY BUNGALOW
4 Bedrooms ◆ Large Lot
150′ from Community Beach
– Renovation Needed –
256 ASBURY ROAD
Anne Arundel County, MD 21122
Online Bidding Opens
MONDAY, NOVEMBER 29, 2021
Live Onsite Auction
THURSDAY, DECEMBER 2, 2021
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.
256 Asbury Road is located in the Riviera Beach neighborhood of northern Anne Arundel County, less than one block west of the confluence of the Patapsco River and Chesapeake Bay. The water-oriented neighborhood is a mixture of single family homes of varying age and style. Older homes have been renovated, expanded or razed for new construction. Public schools are Riviera Beach Elementary, Northeast Middle and Northeast High, according to the AACPS web site. Shopping is conveniently nearby along Fort Smallwood Road. Riviera Beach has good access to the Baltimore Beltway (I-695) and MD-100.
Level Lot – 87.5′ x 125′, comprising 0.25 acre – waterview from front yard. Plat
Public water and sewer
Off-street parking for approximately 4 cars
One Story Aluminum Sided Bungalow, built in 1935, containing 1,462 square feet, according to public tax records, plus basement. Exterior has composition shingle roof (replaced in March 2021), aluminum sliding and double-hung windows.
Detached Workshop and Storage Building, approximately 540 square feet, with electricity and water
Mechanical – electric heat pump and central air conditioning, some electric baseboard heat
The home needs updating and cosmetic repairs.
The property is in fee simple and sold free and clear of liens. Prior deed reference Book 7503, Page 717.
Published annual real estate taxes are $2,914, based on a full value assessment of $257,900. 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: Assessment Appeal Process – dat.maryland.gov
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
Live Auction Bidders – 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 within 24 hours at the Auctioneer’s office.
Online Auction Bidders – A 10% deposit, payable by wire or cashier’s check, will be required of the purchaser by 4:30 p.m. on the day 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. 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. A 5% buyer’s premium will be added to the final bid price.