Ground Rent Portfolio Offering

All bids are to be received, in writing, by 2:00 P.M. on Thursday, October 20, 2016

Listing Details

Sold Price
$1,745
Auction Date
Auction Time
2:00 PM
Address
Various addresses, Baltimore, MD
County
Baltimore City
Scroll down for Complete Details, including: property description and Terms of Sale.

GROUND RENT PORTFOLIO OFFERING

NOTES

  1. The package contains 4 Ground Rents.
  2. All of the ground rents are registered.
  3. Seller has the deed or deed reference for each ground rent.
ADDRESS PER YEAR PAYING NOT PAYING DUE DATES
2413 Druid Hill Avenue  21217 $90.00 X   4/22 & 10/22
8 N. Ellwood Avenue  21224 $42.00 X   6/1 & 12/1
2408 Francis Street  21217 $70.00   X 4/22 & 10/22
1658 W. North Avenue  21217 $90.00 X   4/22 & 10/22

 


TERMS OF SALE

  1. Sale will be all cash.
  2. The full Purchase Price will be required of Purchaser within twenty-four (24) hours of acceptance by the Seller.
  3. All offers are to be expressed as a money amount. The Purchase Price will be adjusted in favor of Buyer in the event that any rents are redeemed or determined to have unmarketable title prior to Closing. The amount of the adjustment will be determined by multiplying the annual rent from the property not being sold by the Capitalization Rate for the entire transaction. The Capitalization Rate shall be determined by dividing the annual package income by the bid made by the Buyer.
  4. All costs to convey title, including Buyer's legal fees, deed preparation, all title company charges and fees, recordation fees, recordation taxes, and transfer taxes are to be paid by the Buyer. Purchase Price to be paid by Buyer is Net to Seller. All offers will be evaluated on a Net to Seller basis.
  5. Right to collect all rents unpaid as of Closing shall belong to the Buyer, but all rents which are less than one hundred eighty (180) days in arrears before Closing will be added to the Purchase Price bid by Buyer as an automatic adjustment in favor of Seller.
  6. Closing is to occur no later than thirty (30) days after execution of the Agreement of Sale. Buyer shall execute the Agreement of Sale within twenty-four (24) hours after notification that Buyer is the successful bidder.
  7. The Seller reserves the unqualified right to reject any or all offers. Bids will be accepted or rejected within twenty-four (24) hours of bid opening.
  8. Time is of the essence.

BIDDING INSTRUCTIONS

All bids are to be received, in writing, by 2:00 P.M. on Thursday, October 20, 2016

Please Submit Bids by Email to charles@ajbillig.com