REAL ESTATE AUCTION
- Owner Moved to California -

WEST LAUREL

3 Bedroom 2 Bath
CAPE COD HOME

Situated on 1.11 Acres ±


FRONT VIEW         REAR VIEW

Sale On Premises
16026 BURTONS LANE
a/k/a 16026 Burton Lane
Off Brooklyn Bridge Road
Prince George's County, MD 20707

THURSDAY, AUGUST 18, 2005
AT 11:00 A.M.


LOCATION:

10626 Burtons Lane is located on a quiet country lane, just two miles northwest of the Laurel Business District, just south of the Prince Georges - Montgomery County line. The site is convenient to Washington, D.C. and Baltimore via nearby I-95. Large custom homes are being constructed in the immediate area.


Photos:     BURTONS LANE      NEIGHBOR #1
                  NEIGHBOR #2      NEIGHBOR #3

Directions - From I-95 Exit 33B follow MD-198 west one mile to Riding Stable Road, turn right and follow (becomes Brooklyn Bridge Road) 1.1 miles to Burtons Lane on the left. Turn left to property.

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

LOCATION MAP

SITE:

1.11 acres, fronting approximately 122' by a depth of 292.54', all more or less. The lot is partially wooded with mature trees. The rear yard is fenced. Gravel driveway.

TAX MAP



ZONING:

R-A, Residential-Agricultural, allowing for one home site

IMPROVEMENTS:

Shingle Cape Cod home, constructed circa 1948, with vinyl double hung replacement windows, some wooden double hung windows, composition shingle roof, aluminum rain gutters and down spouts, and concrete block basement foundation. Interior finishes are drywall, hardwood, carpeting and ceramic tile baths. The home needs remodeling.

First Floor

Living Room - carpeting, built-in bookcase



Dining Room - carpeting

Kitchen - vinyl floor, range/oven, dishwasher, refrigerator



Full Bath

Bedroom - hardwood, closet

Bedroom - hardwood, closet



Second Floor

Arranged as a suite - Bedroom, Sitting Room and Full Bath

Scuttle storage areas

Basement

Unfinished basement with outside exit, laundry area with washer and dryer

MECHANICAL:

Oil forced hot air heat
Central air conditioning
200 ampere electrical service
50-gallon electric water heater


UTILITIES:

Public water
Electric
Cable TV
Private septic system

PUBLIC
SCHOOLS:

Bond Mill Elementary School
Martin Luther King, Jr. Middle School
Laurel High School

TITLE:

In fee simple. Deed Liber 12911, page 448. The property is sold free and clear of all liens.

TAXES:

2005-2006 Real Estate Taxes - $2,677.05

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. Balance to be paid in cash within 45 days. 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 of 12% per annum, from date of sale to date of settlement. All adjustments, including taxes, all other public charges and assessments payable on an 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. 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 and transfer taxes to be paid by the purchaser. Time is of the essence.

NOTICE REGARDING 1031 EXCHANGE: Buyer acknowledges that it is the intention of the Seller to create an IRS Section 1031 Tax Deferred Exchange (the "Exchange") and that the Seller's rights and obligations under this Contract may be assigned to a qualified intermediary (the "Intermediary") to be designated by the Seller to facilitate such Exchange. Buyer agrees to fully cooperate with the Seller and Intermediary, at no additional cost of liability to the Buyer, to enable Seller to utilize the contemplated Exchange.

No Buyer's Premium.

BROKER
PARTICIPATION:


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