"Pen Lucy"

REAL ESTATE AUCTION

TWO STORY
BRICK TOWNHOME
-Arranged for Two Units-

Sale On Premises
810 ARGONNE DRIVE
Baltimore, MD 21218

THURSDAY, DECEMBER 27, 2018
AT 1:15 P.M.

– Suggested Opening Bid: $20,000 –

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:
810 Argonne Drive is located in the Pen Lucy neighborhood of northeast Baltimore City. Surrounding neighborhoods include Guilford, Waverly, Ednor Gardens-Lakeside, Original Northwood and Wilson Park. For commuters, the property is located in between both Greenmount Avenue and Loch Raven Boulevard, two major north/south thoroughfares. Both roads feature dining, retail and entertainment options. Lake Montebello (1.2 miles) and Clifton Park (1.6 miles) offer a multitude of outdoor activities, including the Clifton Park Golf Course. Major employers in the area include Johns Hopkins University, Morgan State University, Loyola University and Cloverland Green Spring Dairy.

For more information about Baltimore City neighborhoods, please see:
http://livebaltimore.com/neighborhoods/

SITE:
Lot – 20′ x 86’10”, more or less

All public utilities

Zoned R-7, residential, single family

Arranged for two dwelling units

IMPROVEMENTS:
Two story brick inside group townhome – according to public tax records, the house was constructed in 1940 and contains 1,240 square feet of living area and 620 square feet of basement space. The property is arranged for two units with a monthly gross income of $1,100. Tenants are on a month to month lease.

ADDITIONAL INFORMATION:
Please complete a Waiver and Confidentiality Agreement form to view the leases.

TITLE:
In fee simple; and sold free and clear of liens.

TAXES:
Published annual real estate taxes are $2,307.42 based on a full value assessment of $105,800. 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

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $2,500 deposit, payable by certified check or 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. All adjustments, including taxes, rent, 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 settlement and assumed thereafter by the purchaser. The property will be sold in “AS IS” condition, and subject to easements, agreements, restrictions, covenants of record affecting same or housing violation notices, if any, and the existing leases of the tenants in place. 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!