ONLINE REAL ESTATE AUCTION
THREE STORY BRICK
1006 W. LOMBARD STREET
Near Schroeder Street
Baltimore City, MD 21223
TUESDAY, APRIL 19, 2022
THURSDAY, APRIL 21, 2022
AT 11:30 A.M.
– Bidding Starts at: $30,000 –
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.
1006 W. Lombard Street is located in the Hollins Market neighborhood in southwest Baltimore City, and is within the Union Square – Hollins Market National Historic District. The neighborhood has a long, rich history, including several historical sites, including Hollins Market itself (2 blocks northwest) and The B & O Railroad Museum (2 blocks south). The historic designation of the neighborhood also carries CHAP tax credit opportunities. The location is convenient to major employment centers, including University of Maryland’s Baltimore campus and biotech park, which is within approximately one-quarter mile. Downtown Baltimore is less than one-half mile east, and a number of major highways are easily accessible. A community garden is located in the interior of the subject block.
Rectangular lot – 13′ x 66’7″. Plat
All public utilities
Zoned R-8 Residential
Three story brick formstone-front townhome constructed in 1900, according to public tax records. The home contains living room, dining room, laundry area, kitchen, on first floor; full bathroom, bedroom, on second floor; two bedrooms, on third floor; unfinished basement. Currently rented for $1,290/month ($1,200 rent; $90 water).
Published annual real estate taxes are $1,694.48, based on a full value assessment of $71,800.
In fee simple; sold free and clear of liens.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A $3,000 deposit, or 10% of the purchase price (whichever is greater), payable by cashier’s check or wire transfer, will be required of the purchaser by 4:00 P.M. on the day of the auction at the Auctioneer’s office at 6500 Falls Road, Baltimore, MD 21209. 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. All adjustments, including taxes, rents, 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 settlement and assumed thereafter by the purchaser. Security deposits, if any, shall be adjusted at the time of settlement. The property will be sold in “AS IS” condition, and subject to the existing leases of the tenants in place, 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. 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. A 5% buyer’s premium will be added to the final bid price.