"Penrose"

ONLINE REAL ESTATE AUCTION

TWO STORY
TOWNHOME

Known As:
110 N. SMALLWOOD STREET
Near W. Fayette Street
Baltimore City, MD 21223

BIDDING OPENS:
FRIDAY, JUNE 26, 2020

BIDDING CLOSES:
MONDAY, JUNE 29, 2020 AT 1:00 P.M.

– Suggested Starting Bid: $5,000 –

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:
110 N. Smallwood Street is located in the Penrose neighborhood of West Baltimore City. Surrounding neighborhoods include Shipley Hill, Franklin Square and Midtown – Edmondson. The property is located off of W. Fayette Street, an east/west thoroughfare, that contains dining, retail and entertainment options. Commuters can take advantage of Fulton Avenue and Monroe Street for north/south travel and Route 40 for east/west travel. Major employers in the area include Bon Secours Hospital, the shops at Westside Shopping Center and Coppin State University.

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

SITE:
Lot – 17′ x 69′, more or less

Zoned Residential

All public utilities

IMPROVEMENTS:
Two story end of group townhome, built in 1920, according to public tax records. The home contains living room, dining room, kitchen, on the first floor; three bedrooms and a bath, on the second floor; partially finished basement.

TITLE:
Subject to an annual $90 ground rent payable in semi-annual installments on 1/10 and 7/10; sold free and clear of liens.

TAXES:
Published annual real estate taxes are $70.18, based on a full value assessment of $3,000. 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.

SUMMARY TERMS OF SALE – PLEASE REFER TO THE CONTRACT FOR THE COMPLETE TERMS OF SALE:
A $2,500 deposit, or ten percent (10%) of the Purchase Price (whichever is greater), in cash or cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, within 24 hours of Monday, June 29, 2020 at 1:00 P.M. (the bid closing). 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, 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 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