"Pikesville"

Recently Renovated Office Building
3,545 +/- Square Feet, Zoned RO
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Listing Details

Sold Price
$360,000
Auction Date
Auction Time
10:00 AM
Address
8 Church Lane, Baltimore, MD, 21208
County
Baltimore County
Neighborhood
Pikesville
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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W. Scott Tinney, Solicitor
Cohen & Forman, LLC
334 St. Paul Place
Baltimore, MD 21202

SUBSTITUTE TRUSTEES' AUCTION

PIKESVILLE

Recently Renovated
OFFICE BUILDING
3,545± Square Feet ◆ Zoned RO

Known As
8 CHURCH LANE
Off 1300 Reisterstown Road
Baltimore County, MD 21208

Sale to Be Held on
COURTHOUSE STEPS
Circuit Court for Baltimore County
401 Bosley Avenue, Towson, MD 21204

WEDNESDAY, FEBRUARY 17, 2016
AT 10:00 A.M.

    Under and by virtue of the power of sale contained in a certain Indemnity Deed of Trust from Gerald Jones and 8 Church Lane, LLC to the Trustee therein, dated May 22, 2013, and recorded among the Land Records of Baltimore County, Maryland, in Liber 033794, Page 126, the holder of the indebtedness secured thereby having appointed the undersigned to act as Substitute Trustees, in place and stead of the aforementioned Trustee, 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, at the Courthouse, the following:

    All that fee simple lot of ground and the improvements thereon, situate and lying in Baltimore County, State of Maryland and being more fully described in the above-referenced Indemnity Deed of Trust; lot size 75' x 250', more or less.

    The improvements comprise a recently renovated, two story vinyl siding converted office building.  According to published tax records, the building was constructed in 1896, contains 3,545 square feet of gross building area and 836 square feet of basement space.  The building has front and rear entrances, and is believed to contain 7 offices, kitchen, full bath, 3 half baths, reception area, waiting room, conference room, loft apartment, full unfinished basement and central air conditioning; paved parking lot and second fenced rear parking lot.  The site is believed to be zoned RO, residential office.  The office building is believed to be rented for $3,000/month and a portion of the parking lot for $1,000/month, under month-to-month leases.

    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.

    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 shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's Office.  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 Baltimore 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 retained by the trustees as liquidated damages, and the Substitute Trustees will have no other remedy.  Interest to be charged on the unpaid purchase money, at the rate stated in the Note executed in connection with the foreclosed Indemnity Deed of Trust, from date of sale to date of settlement.  If settlement is delayed for any reason, there will be no abatement of interest.  All adjustments as of date of sale.  Taxes, rents and all other public charges and assessments payable on a monthly or 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;  subject to easements, agreements, restrictions or covenants of record affecting same, if any; and subject to the rights of the existing tenants, 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.  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.

    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.

No Buyers Premium

David H. Cohen, Geoffrey L. Forman and
W. Scott Tinney, Substitute Trustees