– $150,000 Opening Bid –
“Bedford Village Condominium”
3 Bedroom ◆ 2.5 Bath
Sale On Premises
1 GALA LANE
Off Church Lane
Baltimore County, MD 21208
TUESDAY, SEPTEMBER 15, 2020
AT 11:00 A.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.
1 Gala Lane is conveniently located three blocks west of Reisterstown Road, off Church Lane in Pikesville. The home is one of seventeen townhomes in the Bedford Village Condominium. Nearby public schools are Milbrook Elementary, Pikesville Middle and Pikesville High, according to the Baltimore County government web site. Bedford Village is a well maintained enclave with good access to the Baltimore Beltway (I-695) and the Metro Subway.
Landscaped end lot with one-car driveway. All public utilities, including gas, electric, water and sewer. Zoning DR-16 and OR-1, according to public zoning records.
Three story end-of-group townhome, built in 1980, comprising 1,979 square feet of living area and 160 square foot built-in garage, according to public tax records.
Exterior – vinyl siding, brick trim, composition shingle roof, aluminum sliding windows, ground level wood patio and main level wood sun deck.
Mechanical – gas forced air heat, central air conditioning, 40-gallon gas water heater, 200-amp. electrical service, Verizon Fios, security alarm
The home is vacant, clean but needs refreshing.
Monthly condominium fees are $185 per month.
Condominium Resale Documents:
The property is sold free and clear of liens in fee simple. Baltimore County Deed Book JLE 36316, Page 1.
Published annual real estate taxes are $2,971, based on a full value assessment of $165,233. 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 see the contract of sale for complete terms.
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. If simulcast bidding, the full 10% deposit is due by 4:30 p.m. on the day of sale by wire transfer or cashier’s check. 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, condominium fees, 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 the Declaration and By-Laws of the Bedford Village Condominium, and 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 rescission under Maryland Condominium Law, having reviewed the condominium resale package prior to the time of sale. 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.