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ONLINE REAL ESTATE AUCTION
To The Highest Bidder Above $10,000
10889 LA PLATA ROAD
La Plata, Charles County, MD 20464
MONDAY, MAY 18, 2020
WEDNESDAY, MAY 20, 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.
The property is located in the rural town of La Plata in southern Maryland. The property sits off of La Plata Road, MD – 488, an east/westbound road that can take residents into the heart of the La Plata business center. Inside the town, located within 3 miles of the property, are many restaurants, shops and other entertainment options. The small town serves as the seat of the Charles County government and hosts the Charles County District Court, Treasurer’s Office and the Charles County Department of Social Services, all major employers in the area. According to the Charles County Public Schools locator, the public schools in the area include Mary H. Matula Elementary School, Milton Somers Middle School and La Plata High School.
Lot – 0.837 acre, more or less, is panhandle-shaped and situated in the rear of 10885 La Plata Road.
Water and sewer are believed to be needed on the property.
There is no existing driveway at the site. According to the surveyor engaged by the defaulting purchaser, a grading easement may be required in conjunction with paving the access easement shown on the plat. Existing driveways belong to adjoining property owners. At the request of those adjoining property owners, please do not use their driveways for parking when visiting the site.
Zoned R-R, Residential Rural
In fee simple; sold free and clear of liens.
Published annual real estate taxes are $1,346, based on a full value assessment of $85,200. 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 $2,500 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 Wednesday, May 20, 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, 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. 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.