PUBLIC AUCTION

LAURAVILLE

Multi-Unit
DUTCH COLONIAL

With 2 Car Garage

FRONT     REAR      GARAGE

Sale On Premises
2617 AILSA AVENUE
Off 5000 Harford Road
BALTIMORE, MD 21214

TUESDAY, AUGUST 16, 2005
AT 2:00 P.M.


       THE INFORMATION CONTAINED HEREIN HAS BEEN OBTAINED FROM SOURCES DEEMED RELIABLE AND BELIEVED TO BE ACCURATE. HOWEVER, NO EXPRESS OR IMPLIED WARRANTY IS MADE AS TO THE ACCURACY OF THESE REPRESENTATIONS.

GENERAL INFORMATION

LOCATION:

Situated in the stable Lauraville neighborhood of northeast Baltimore City. From 2500 E. Cold Spring Lane, turn north on Grindon Avenue. Travel 4 blocks to Ailsa Avenue and turn right to the property. The house is situated opposite Garrett Heights Elementary School and within walking distance of public transportation and ample shopping along Harford Road. Downtown Baltimore City is located approximately 10-15 minutes to the southwest.

For a detailed neighborhood profile, visit:
http://www.livebaltimore.com/nb/list/laura/

LOCATION MAP

For directions from your location, visit:
http://www.mapquest.com/directions/main.adp

SITE:

Great lot measuring: 55' x 130', more or less
Serviced by public water, public sewer and natural gas

BLOCK PLAT

ZONING:

R-4, three dwelling units

IMPROVEMENT
DESCRIPTION:

Well located Dutch colonial style multi-unit cottage with a wrap-around front porch, contains:

First Floor - foyer, living room, kitchen and three bedrooms (each bedroom is rented for $500/month, $250/month and $250/month to rooming tenants, each tenant sharing the living room and kitchen areas).

Second Floor Front and Third Floor Unit - living room, kitchen and bedroom, on the second floor front; 2 bedrooms and bathroom, on the third floor (vacant - was $500/month).

Second Floor Rear Unit - living room, kitchen with breakfast area, 2 bedrooms and bathroom ($450/month).

Basement - Kitchen, bedroom, bathroom and laundry room (vacant).

Note: The building has a non-working oil steam heating system. There is a recently installed 75 gallon gas fired water heater. The building is in need of repairs.

ANNUAL REAL
ESTATE TAXES:


$2,716.00

TITLE:

In fee simple; sold free and clear of all liens

INSPECTION:

1:00 p.m. on the day of the auction


TERMS OF SALE

       Deposit payable by certified or cashier's check of $7,500 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. Balance to be paid in cash within 45 days. If payment of the balance does not take place within the specified time, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting 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. 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 the existing zoning; and subject to rights of the existing tenants and easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes risk of loss from the date of sale forward. The purchaser waives and releases the Seller, 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 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 Auctioneer. The purchaser agrees to waive the right of inspection for lead paint as provided under current Federal and State Law. Cost of all recordation and transfer taxes to be paid by the purchaser. TIME IS OF THE ESSENCE. NO BUYERS PREMIUM!