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ONLINE REAL ESTATE AUCTION
– To the Highest Bidder Above: $250,000 –
1603 WEBSTER STREET
Off Fort Avenue
Baltimore City, MD 21230
MONDAY, AUGUST 24, 2020
THURSDAY, AUGUST 27, 2020 AT 1:00 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.
1603 Webster Street is located in the Riverside neighborhood in South Baltimore City. Surrounding neighborhoods include Federal Hill, South Baltimore and Locust Point. Riverside comprises a large area running from Wells Street and the CSX tracks up to Cross Street, and from Light Street over to Key Highway. Riverside Park is the cornerstone of the neighborhood, and includes a public pool, gazebo, ball fields, play ground, annual concerts and events. Significant development is going on in the area, including major projects along Key Highway, Port Covington development, new restaurant and retail operations, new home construction and a significant amount of existing home renovations. Well known coffee shops, restaurants and taverns are along Fort Avenue and Key Highway, as are Charm City Circulator and MTA bus stops. University of Maryland Shuttle service is along Light Street.
Lot size: 15′ x 77′, more or less
Rear concrete parking pad
All public utilities are in the property
Zoning R-8, residential
Two story brick inside-group porchfront townhome – constructed in 1900, containing 1,134 square feet of living area and 567 square feet of basement space. The home features a rooftop deck with water views.
Subject to a $69 ground rent (unregistered); sold free and clear of all liens.
Published annual real estate taxes are $7,032.80, based on a full value assessment of $298,000.
SUMMARY TERMS OF SALE (Please see the contract of sale for complete terms):
A $25,000 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 Thursday, August 27, 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. The property will be sold subject to Baltimore City violation notices, if any. Purchaser assumes the risk of loss from the date of contract forward. The Purchaser waives and releases the Seller, the Auctioneers, and their respective agents, successors and assigns from any and all claims the Purchaser and/or its successors and assigns may now have or may have in the future relating to the condition of the property, including but not limited to the environmental condition thereof. 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. Seller is a family member of the selling broker/auctioneer. 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. Time is of the essence.
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