"Ocean City, MD"

Ocean Block Condominium Unit with 2 Bedrooms, 2 Baths & Balcony
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Listing Details

Sold Price
$190,000
Auction Date
Auction Time
11:00 AM
Address
Tradewinds Unit #204, 7 139th Street, Ocean City, MD, 21842
County
Worcester County
Neighborhood
Ocean City, Tradewinds Condominium
Inspection
The property will be open on the day of the sale.
For more information, email: info@ajbillig.com or call 410-296-8440.
The property is also available to inspect prior to the auction. Please click the above link to open the Waiver, Indemnity and Premises Use Certification form, fill it out, sign it, and return it to the office of the Auctioneer by fax to 410-296-4420 or email info@ajbillig.com. Once the completed form has been received, you will receive inspection instructions via email.
Additional Documents
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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REAL ESTATE AUCTION
$100,000 Suggested Opening Bid

OCEAN CITY, MD

Ocean Block Condominium Unit
2 Bedrooms, 2 Baths, Balcony

Sale On Premises
Tradewinds Condominium Unit #204
7  139TH  STREET
Worcester County, MD 21842

SATURDAY, APRIL 18, 2015
AT 11:00 A.M.

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.

LOCATION:
Tradewinds Condominium is located in north Ocean City, one-half block from an excellent stretch of Atlantic Ocean beach.  The building is within walking distance of restaurants, shopping and public transportation.  From Coastal Highway, turn east on 139th Street to Tradewinds Condominium on south side of street.  Parking lot is accessible from Wight Street.

BUILDING:
Tradewinds Condominium is a five story masonry building constructed in 1974.  The building has one self-service elevator, convenient stairwell, outdoor shower and on-site parking with one assigned space for unit 204. Annual condominium fees are $3,200, billed semi-annually. The unit contains approximately 1081 square feet of living area.

UNIT 204:

  • Foyer with closet
  • U-shaped Kitchen with breakfast counter
  • Living Room/Dining Room combination with sliding doors to balcony
  • Master Bedroom with en-suite shower Bath - ceramic tile floor
  • Bedroom #2
  • Hall Bath - ceramic tile floor
  • Utility Closet
  • Balcony with ocean view
  • Electric heat and central air conditioning
  • Electric water heater

The unit has been freshly painted and has new carpeting.  Kitchen and bathrooms appear original.

CONDOMINIUM ASSOCIATION:
Condominium Resale Package

TITLE:
The property is in fee simple and sold free and clear of all liens.  Deed Liber 6387, folio 355.

TAXES:
Published annual real estate taxes for 2015 are $2,572.26, based on a full value assessment of $190,200.  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 $10,000 deposit, payable by 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 by 12:00 Noon, Monday, April 20, 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 12% per annum, from date of sale to date of settlement.  All adjustments, including taxes, condominium fees, 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 and agrees to waive any right of rescission under Maryland condominium 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.

No buyer's premium