"Frederick - Jefferson Chase"

Ground Floor, One Bedroom Condo Unit
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Listing Details

Sold Price
$64,480
Auction Date
Auction Time
11:00 AM
Address
501 Prospect Boulevard, Unit A-1, Building A, Phase 2, Frederick, MD, 21701
County
Frederick County
Neighborhood
Frederick, Jefferson Chase
Inspection
The property will be open for viewing approximately 30 minutes prior to the time of sale.
Additional Documents
Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description and Terms of Sale.

REAL ESTATE AUCTION
$40,000 Suggested Opening Bid

FREDERICK

"Jefferson Chase"

Ground Floor
ONE BEDROOM
CONDOMINIUM UNIT

Sale On Premises
501 PROSPECT BOULEVARD
Unit A-1, Building A, Phase 2
Frederick County, MD 21701

TUESDAY, OCTOBER 21, 2014
AT 11:00 A.M.

    Ground level garden apartment unit - according to public tax records the building was constructed in 1964 and the unit contains 810 square feet of living area, including a living room, eat-in kitchen, bedroom and bath, electric baseboard heat.

    Condo. fee is $110 per month. Please see above for the link to the condominium documents.  Community amenities include a playground and exercise room.

    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.

    Published annual real estate taxes for 2014 are $2,005.02 based on a full value assessment of $110,000.  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 http://www.dat.state.md.us/sdatweb/appeal.html

    TERMS OF SALE:  A $5,000 deposit, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale.  The deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's office.  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 8% per annum, from date of sale to date of settlement.  All adjustments, including taxes, condominium or homeowners association fees, if any, 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 sale 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 sale forward.  The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law.   Purchaser agrees to waive any right of rescission under Maryland Homeowners Association and/or Condominium Law, if applicable.  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 4% buyer's premium will be added to the final bid price.