ONLINE REAL ESTATE AUCTION
506 E. LYNN AVENUE
a/k/a 506 E. Lynne Avenue
Baltimore City, MD 21223
MONDAY, MARCH 21, 2022
TUESDAY, MARCH 22, 2022 AT 11:00 A.M.
– Opening Bid: $5,000 –
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.
506 E. Lynn Avenue is located in the Millhill neighborhood of southwest Baltimore City. Surrounding neighborhoods include Wilhelm Park, Gwynns Falls, Shipley Hill and Carrollton Ridge. The area is convenient to a number of major thoroughfares, providing good access to major employment centers in the surrounding commercial areas, Downtown Baltimore and points south and west. Wilkens Avenue to the south and Frederick Avenue to the north provide restaurants, grocery stores, banks and other entertainment venues. Nearby employers include Saint Agnes Hospital, Grace Medical Center and Horseshoe Casino Baltimore.
For more information about the area, please visit:
Neighborhoods – livebaltimore.com
Lot – 13′ x 72′, more or less. Plat
All public utilities
Zoned R-8, Residential
Two story inside group porchfront townhome. According to public tax records, the property was constructed in 1920. The home is believed to contain living room, dining room, kitchen, on first floor; two bedroom and bath, on second floor; unfinished basement.
In fee simple; sold free and clear of liens. Baltimore City Deed Book Liber MB 18673, Folio 189.
Published annual real estate taxes are $448.40, based on a full value assessment of $19,000. 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 – dat.maryland.gov
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 a cashier’s check to be delivered to the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209, or sent by wire transfer, by 4:00 P.M. on the day of the auction. 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 assumes the risk of loss from the date of contract forward. The Property will be sold subject to Baltimore City violation notices, if any. Purchaser waives 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. A 5% or $1,500 buyer’s premium, whichever is greater, will be added to the final bid price.