"Eldersburg" Strip Shopping Center

6,745 +/- Sq. Ft., 1.0 +/- Acre, Zoned BG
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Listing Details

Sold Price
$710,000
Auction Date
Auction Time
11:00 AM
Address
25 Liberty Road, Eldersburg, MD, 21784
County
Carroll County
Neighborhood
Eldersburg, Sykesville
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Moore, Carney, Ryan & Lattanzi, LLC
9649 Belair Road - Suite 302
Nottingham, Maryland 21236

SUBSTITUTE TRUSTEES' SALE

ELDERSBURG

STRIP SHOPPING CENTER
6,745± Sq. Ft. ★ 1.0± Acre ★ Zoned BG

Sale On Premises
25 LIBERTY ROAD
Sykesville, Carroll Co., MD 21784

TUESDAY, SEPTEMBER 30, 2014
AT 11:00 A.M.

    Under and by virtue of the power of sale contained in certain Deeds of Trust from Jae Ho Lim and Mung S. Lim (a/k/a Myung S. Lim) to Lawrence W. Williams and/or Vickilynn Zimmerman, Trustees, dated January 3, 2003 and from Jae Ho Lim (a/k/a Myung S. Lim) to Lawrence W. Williams, Trustee, dated April 20, 2006, recorded among the Land Records of Carroll County, MD, in Liber L.W.S. 3233, folio 298 and in Liber L.W.S. 4871, folio 57 respectively, the holders of the indebtedness secured thereby having appointed Lisa M.L. Eisemann, and/or Richard E. Lattanzi, and/or Kristin A. Harclerode, to act as Substitute Trustees, in place and stead of the aforementioned Trustees, by instruments duly executed, acknowledged and recorded among the Land Records aforesaid, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Substitute Trustees will sell at Public Auction, on the premises, the following:

    All that fee simple lot of ground and the improvements thereon, situate and lying in Carroll County, State of Maryland, and being more fully described in the above referenced Deeds of Trust.

    The property is reportedly improved by a one story masonry retail strip shopping center with a brick and stucco exterior.  The building is believed to contain 3 retail stores (each unit with lavatory and separate heatpump) in the front of the center, comprising 3,945 sq. ft., more or less.  The rear of the building, used previously for a real estate office, comprises 2,800 sq. ft. and contains a reception room, central office, 5 private offices, 2 conference rooms, kitchen and rest room.  The building is believed to be built on concrete slab.  Lot size is 1.0 acre, more or less and  reportedly is on a private well and septic system.

    TERMS OF SALE:  A $25,000 deposit, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale.  The deposit is to be increased to 10% of the purchase price within 24 hours at the office of the Auctioneers.  The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Carroll County at the offices of the Substitute Trustees.  If payment of the balance does not take place within the specified time, the deposit will 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 7.5% per annum, from date of sale to date of settlement.  All adjustments as of date of sale.  Taxes and all other public charges and assessments payable on an annual basis, including sanitary and/or metropolitan district charges, if any, to be adjusted for the current year to date of sale and assumed thereafter by the purchaser.  The property will be sold in "AS IS" condition, without express or implied warranty as to the nature and description of the improvements as contained herein;  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 sale forward.  All square footage and acreage contained herein are more or less.  The purchaser waives and releases the Substitute Trustees, the holder of the indebtedness, 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. If the Substitute Trustees are 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 Substitute Trustees, Noteholder or Auctioneer.  Recordation costs, transfer taxes and all other costs incident to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law.  Time shall be of the essence for the purchaser.  No Buyer's Premium!

    Authority to cancel this sale rests solely with the Substitute Trustees and/or the Auctioneer. Prospective buyers should disregard all other statements and comments made by any other person or entity regarding minimum bids, pricing and cancellations of the sale. Additional terms may be announced at the time of sale. The Substitute Trustees reserve: (1) the right to accept or reject any or all bids; (2) the right to modify or waive the requirements for bidders' deposits and terms of sale and/or settlement; (3) the right to withdraw the Property from the sale before acceptance of the final bid; and (4) the right to cancel or postpone the sale.

Lisa M.L. Eisemann, Kristin A. Harclerode and  
Richard E. Lattanzi, Substitute Trustees.