"Germantown"

Contractor's Commercial Site
Office Building, Garage, Storage & Shop Buildings
2.03 +/- Acres, Zoned R-200
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Listing Details

Sold Price
$640,000
Auction Date
Auction Time
11:00 AM
Address
20516 Frederick Road, Germantown, MD, 20876
County
Montgomery County
Neighborhood
Germantown
Financing
See our Financing Page for a list of auction-oriented lenders.
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Protas, Spivok & Collins, LLC
4330 East West Highway, Suite 900
Bethesda, Maryland 20814

SUBSTITUTE TRUSTEES' SALE

GERMANTOWN

CONTRACTOR'S COMMERCIAL SITE
Office Building ◆ Garage ◆ Storage & Shop Buildings

2.03± Acres ★ Zoned R-200

Sale On Premises
20516 FREDERICK ROAD
At Germantown Road
Montgomery County, MD 20876

WEDNESDAY, FEBRUARY 11, 2015
AT 11:00 A.M.

    Under and by virtue of the power of sale contained in a certain Deed of Trust from A & P Contractors Inc., dated October 22, 2007, and recorded among the Land Records of Montgomery County, Maryland, in Liber 35013, folio 702, the holder of the indebtedness secured thereby having appointed Jordan M. Spivok and Philip J. Collins to act as Substitute Trustees, by instrument 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, together with the buildings and improvements thereon situated in Montgomery County, Maryland and being known and designated as "All of lot sixty-two (62) in the subdivision of the farm known as the "Mary J. Boland Farm" as per plat recorded in Plat Book 3, at Plat 276, among the Land Records of Montgomery County, Maryland.

    The property is a brick cape cod home (used as a contractor's office) comprising 1,631 sq. ft., plus 1,087 sq. ft. of partially finished basement area, arranged as follows: reception area, 3 offices, kitchen, full bath and copy room, on the first floor; central office, 2 private offices and powder room, on the second floor; central office area, full bath, mechanical and storage room, on the basement level.   4 other structures include: 2 car detached garage (667 sq. ft.); open post and beam shed (128' x 21'); Storage Shed (17' x 25'); and workshop (2,137 sq. ft.).  Lot size: 100' x 900', more or less.

    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 Montgomery County at the offices of the Substitute Trustees.  If payment of the 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 stated in the foreclosed Deed of Trust Note, 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. All dimensions contained herein are more or less.  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. 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, the holder of the indebtedness or Auctioneers.  Recordation costs, transfer taxes and all other costs incident to settlement to be paid by the purchaser. 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.

Jordan M. Spivok and Philip J. Collins,
Substitute Trustees