– $50,000 Opening Bid –
One Bedroom ◆ 2 Baths ◆ Den
Front Facing Balcony
7 SLADE AVENUE
Baltimore County, MD 21208
Online Bidding Opens
FRIDAY, MARCH 26, 2021
Online Bidding Closes
TUESDAY, MARCH 30, 2021
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.
Suburban Oaks Apartments Condominium is an eight-story brick condominium building, built in 1974, containing 168 units, situated opposite The Suburban Club of Baltimore County. 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 $781.00, which include all utilities, building maintenance, trash removal, condominium staff, reserves for replacement and building insurance. Parking is assigned.
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 away from Slade Avenue, providing a quiet, park-like setting. Unit 411 is a front facing apartment with view of The Suburban Club golf course.
Fourth floor unit comprises 1,334 square feet of living area and contains –
The unit is in fee simple and sold free and clear of liens. Baltimore County Deed Book JLE 33328, Page 275.
Published annual real estate taxes are $1,848, based on a full value assessment of $82,333.
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 10% deposit, payable by cashier’s check or wire transfer, will be required of the purchaser by 4:30 p.m. on the day of sale 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. 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. 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 to waive any right of rescission under Maryland Condominium Law, having reviewed the condominium resale package prior to 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. A 5% buyer’s premium will be added to the final bid price.
PRE-AUCTION OFFERS WILL BE CONSIDERED.