ONLINE REAL ESTATE AUCTION
– To The Highest Bidder Over $20,000 –
208 ELIZABETH STREET
Off Ocean Highway (Business US-13)
Wicomico County, MD 21801
WEDNESDAY, OCTOBER 14, 2020
FRIDAY, OCTOBER 16, 2020 AT 12:00 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.
The property is located in the town of Salisbury, located on Maryland’s Eastern Shore. The home is perfect for commuters – situated just off of Ocean Highway. Salisbury Parkway is less than a half mile away and Route 50 is 2.5 miles to the north. Beachgoers can enjoy a quick trip to Ocean City, MD which is 45 minutes away. Inside the town of Salisbury are many restaurants, shops and other entertainment options. Salisbury is known as the commercial hub of the Delmarva Peninsula and has earned national honors as the fastest growing city with affordable homes. Major employers in the area include Salisbury University, the shops at The Centre at Salisbury and Peninsula Regional Medical Center. According to the Wicomico County Public Schools locator, the public schools in the area are North Salisbury Elementary School, Salisbury Middle School and Salisbury High School.
For more information about the area, please visit:
Salisbury, MD – salisbury.md
Salisbury Earns National Recognition – salisbury.md
Wicomico County, MD – www.wicomicocounty.org
School Locator – dev.wcboe.org
Lot – 0.13 Acre, more or less
The home is believed to have public water and sewer
Zoned R-8, residential
Two story traditional porchfront home, constructed in 1920, containing 2,331 square feet of living area. The home is believed to contain living room, dining room, kitchen, on first floor; three bedrooms and bathroom, on second floor; no basement.
Home needs full renovation.
In fee simple; sold free and clear of liens.
Published annual real estate taxes are $1,542, based on a full value assessment of $76,200. 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 $3,000 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, by Monday, October 19, 2020 at 11:00 A.M. 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, 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.