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REAL ESTATE SALE
– $125,000 Suggested Opening Bid –
~Arranged for Two Units~
1433 S. HANOVER STREET
Near Fort Avenue
Baltimore City, MD 21230
Sold prior to the auction.
MONDAY, JULY 13, 2020
WEDNESDAY, JULY 15, 2020 AT 12:30 PM
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.
1433 S. Hanover Street is located in the South Baltimore neighborhood in Baltimore City. Surrounding neighborhoods include Federal Hill, Riverside and Sharp-Leadenhall. The centrally located property is conveniently within a half mile of the recently renovated Cross Street Market – where residents can find coffee shops, food vendors, produce stands and more. Riverside Park, also within a half mile, 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: 16′ x 123′, more or less
All public utilities are in the property
Zoning R-8, residential, approved for two dwelling units
Three story inside-group townhome, constructed in 1900, containing 2,192 square feet of living area and 817 square feet of basement space, according to public tax records. Actual square footage is believed to be 2,502 above grade, plus the basement. The home is currently arranged for two dwelling units. Units are separately metered.
Basement (access through unit one):
Building requires updating and cosmetic repairs.
In fee simple; sold free and clear of all liens.
Published annual real estate taxes are $7,856.44 based on a full value assessment of $332,900. 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, or 10% of the purchase price (whichever is greater) in a 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 Wednesday, July 15, 2020 at 12:30 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. Purchaser shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of contract forward. 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!