Joseph M. Schnitzer, Attorney
Schnitzer, Segall, Hymer & Billian, LLC
6 Reservoir Circle - Suite 102
Baltimore, Maryland 21208

ATTORNEY'S AUCTION
- Baltimore County, Maryland -

TOWSON - IDLEWYLDE

FORMER ARMACOST
NURSING HOME BUILDING

- Suitable for Redevelopment -
Ideal for Assisted Living, Residential,
Non-Profit or Religious Facility

Photos of auction property
FRONT VIEW - FAR      FRONT VIEW - CLOSEUP
REAR VIEW      SIDE VIEW

Sale On Premises
812 REGESTER AVENUE
Corner Sherwood Avenue
East of 6800 York Road 21239

THURSDAY, SEPTEMBER 14, 2006
AT 2:00 P.M.


       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 prior to the auction and contact the appropriate authorities regarding the permitted uses of the site.

LOCATION:

812 Regester Avenue is located in the "Stoneleigh-Idlewylde" neighborhood, in central Baltimore County, south of Towson and north of the Baltimore City line. The surrounding neighborhood is a well established and highly desirable residential area. The site is four blocks east of York Road (MD-45) within walking distance of Towson University.

LOCATION MAP

Street Scene:
Photos of auction property
PHOTO #1      PHOTO #2

SITE:

0.39± acre, northwest corner of Regester and Sherwood Avenues
90' along Regester Avenue
189' along Sherwood Avenue
Paved parking in rear
Public right-of-way in rear, known as Forest Road

SURVEY PLAT

IMPROVEMENTS:

Circa 1924, Two Story Vinyl Siding Building with Rear Extension
Slate roof on main building
Built-up roof on extension (recently recoated)
Covered front porch with upper level sun deck
Aluminum double hung replacement windows
Full basement with outside exit

The building was formerly licensed for 45 nursing home beds. The building was closed in November 2005 and the license has been retired.

FLOOR PLAN

First Floor - Approximately 3,700 square feet (gba)
Entry Foyer
Office
11 - Rooms
Nurses' Office
Linen Closet
Photos of auction property
NURSES' OFFICE      TYPICAL ROOM

Second Floor - Approximately 3,700 square feet (gba) plus finished attic
11 - Rooms
Sitting Room
Finished Attic Room
Photos of auction property
TYPICAL ROOM #1      TYPICAL ROOM #2

Basement - Approximately 3,700 square feet
Commercial Kitchen - fully equipped, walk-in cooler, dishwasher and storage rooms
Dining Room
Laundry Room
Boiler Room
Photos of auction property
DISHWASHER      STOVE

Mechanical
Gas fired hot water heat
Individual window air conditioning units
Wet fire sprinkler
Self-service elevator

Other
Wheelchair ramp
Frame storage building
Photo of

ZONING:

DR 5.5, residential

For a list of permitted uses, see the:
Baltimore County Zoning Regulations

TITLE:

In fee simple. The property is sold free and clear of liens. Deed reference - Liber 5936, Folio 795.

TAXES:

Approximate 2005 real estate taxes:

$ 6,680
    5,549
$12,229
State/County Tax
Special Assessment
Total

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 in 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 as of date of sale. 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 the risk of loss or damage to the property from the date of sale forward. The purchaser waives and releases the Attorney, 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. 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 Attorney, Seller 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.

NO BUYER'S PREMIUM

Broker participation is invited.
BROKER REGISTRATION FORM