REAL ESTATE AUCTION
- Downtown Baltimore -


RIDGELY'S DELIGHT
National Historic District

Renovated, 3 Story
BRICK TOWNHOME

4 Bedrooms 3 Baths Central Air

Photos of auction property
FRONT VIEW      VIEW OF BLOCK      REAR VIEW      STREET VIEW

Sale On Premises
229 S. FREMONT AVENUE
Between Greene St. & MLK, Jr. Blvd.
Baltimore, MD 21230

THURSDAY, MAY 11, 2006
AT 2:00 P.M.


LOCATION:

The property is located one block south of the University of Maryland Hospital and Medical School, several blocks northwest of Oriole Park at Camden Yards, and within walking distance of the Baltimore Convention Center and Baltimore's Inner Harbor attractions. This historic neighborhood features tree-lined streets, brick walkways and extensively renovated homes. The properties are situated in a Registered National Historic District, providing a possible opportunity for historic tax credits.

Photo of

For a neighborhood description, visit:
http://www.livebaltimore.com/nb/list/ridgelys/

LOCATION MAP

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

SITE:

Front 12'8", rear 12', depths are 76' & 80', more or less
Rear courtyard
Serviced by public water, public sewer and natural gas

BLOCK PLAT

ZONING:

R-9, single family residential

IMPROVEMENT
DESCRIPTION:

Renovated three story brick townhome features a drywalled interior, gas forced hot air heat and central air conditioning, modern housepower and central alarm system. The home contains: living room, dining room and modern kitchen (with oak cabinetry, gas range, dishwasher, refrigerator/freezer and disposal), on the first floor; 2 bedrooms and 2 bathrooms, on the second floor; 2 bedrooms and bathroom, on the third floor; basement.

Photos of auction property
LIVING ROOM      DINING ROOM      KITCHEN
BEDROOM #1      BEDROOM #2

ANNUAL REAL
ESTATE TAXES:


$1,830

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 $10,000 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 subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser assumes risk of loss from the date of sale forward. 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. A 5% Buyers Premium will be added to the final bid price. 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. TIME IS OF THE ESSENCE.

Broker Participation is invited.
BROKER REGISTRATION FORM