Real Estate Auction

UNION SQUARE

2 - TOWNHOMES
- Renovation Needed -

Photos of auction property
FRONT VIEW      ALTERNATE VIEW

Sale On Premises
110 & 112 S. CALHOUN ST.
Off 1400 W. Lombard St.
Baltimore, MD 21223

WEDNESDAY, MAY 10
AT 2:00 P.M.


LOCATION MAP

BLOCK PLAT

       Located in the Union Square National Historic district, providing an opportunity for historic rehabilitation tax credits. Adjoining three-story brick townhomes, each situated on a 16' x 79' lot and subject to annual $56 ground rents, feature high ceilings and some original architectural details. Each building has a new rubberized roof. 110 S. Calhoun Street contains 2 rooms, kitchen and bath on the first floor, 3 rooms and bath on the second, 2 rooms on the third, basement, updated gas forced hot air heat and updated water heater; currently rented for $425/month - no leases; zoned R9, single family. 112 S. Calhoun Street has 3 rooms and bath on the first floor, 3 rooms, sitting room and bath on the second, 2 rooms and bath on the third, basement, gas hot water heat (inoperable), vacant; zoned R9, for 2 apartments. Real Estate Taxes: $366 for each property.

       For a neighborhood description of Union Square, visit:
       http://www.livebaltimore.com/nb/list/usquare/

       TERMS OF SALE: A $4,000 deposit on each property, 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, ground rents, 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. A 5% buyers premium shall be added to the final bid price. Manner of sale to be announced on premises.

       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.

Broker participation is invited.
BROKER REGISTRATION FORM