"Pikesville - Suburban Oaks"

 ESTATE AUCTION 

– $60,000 Suggested Opening Bid –

“Suburban Oaks”
Apartments Condominium

MID-RISE APARTMENT
CONDOMINIUM UNIT
2 Bedrooms ◆ 2 Baths ◆ Den
Balcony ◆ In-Unit Laundry

Sale On Premises
7 SLADE AVENUE
UNIT 407
Baltimore County, MD 21208

WEDNESDAY, JANUARY 10, 2018
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.

BUILDING:
Suburban Oaks Apartments Condominium is an eight-story brick condominium building, containing 168 units, situated opposite The Suburban Club of Baltimore County, built in 1974. Suburban Oaks is a full service building, with valet parking, reception desk, furnished lobby with doorman, inground swimming pool, club room, handicap access, secure parking area, self-service elevators, storage lockers, ample guest parking and landscaped grounds. The building is well maintained and professionally managed by Brodie Management, Inc. Monthly Condominium fees are $727, which include all utilities, building maintenance, trash removal, condominium staff, reserves for replacement and building insurance. Parking is assigned.

Please check back for the Condominium Resale Package.

LOCATION:
7 Slade Avenue is located along the south side of Slade Avenue, east of Reisterstown Road and west of Park Heights Avenue. Shopping, public transportation and community services are within walking distance. The building is situated far from Slade Avenue, providing a quiet, park-like setting.

UNIT 407:
Fourth floor apartment unit comprises 1,389 square feet of living area, according to public tax records. The unit is east facing and has a private balcony. The apartment contains:

• Foyer – wood floor, coat closet
• Living/Dining Combination – wood floor, sliding doors to balcony
• Den – wood paneling, wood floor, built-in wall unit
• Eat-in Kitchen – laminate floor, white laminate cabinets and counters, Whirlpool double wall oven, Maytag dishwasher, refrigerator/freezer
• Master Bedroom Suite – carpeting, walk-in closet, two additional closets, ceiling fan, dressing area, updated ceramic tile Master Bathroom with shower
• Bedroom #2 – carpeting, two closets
• Full Bathroom in hall – updated, ceramic tile
• Laundry Closet with stacking washer/dryer
• Linen Closet

The unit has electric forced air heat and central air conditioning. Utility costs are included in the monthly condominium fee.

TITLE:
The unit is in fee simple and is sold free and clear of liens. Baltimore County Deed Book 17960, Page 516.

TAXES:
Published annual real estate taxes are $1,485, based on a full value assessment of $63,667. 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

TERMS OF SALE:
A $5,000 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. 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 easements, agreements, restrictions or covenants of record affecting same, if any, and subject to the Declaration, Bylaws, Rules and Regulations of the Suburban Oaks Apartments Condominium. 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 and agrees to waive the right of rescission under Maryland Condominium Law, having reviewed the Condominium Resale Package in advance of the auction. 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.

Auction by order of the Estate of Ivan Bernard Oshrine