"Forest Park" 6-Unit Apartment Building

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Listing Details

Sold Price
$180,000
Auction Date
Auction Time
11:00 AM
Address
4001 Maine Avenue, Baltimore, MD, 21207
County
Baltimore City
Neighborhood
Forest Park
Scroll down for Complete Details, including: property description and Terms of Sale.

W. Scott Tinney, Solicitor
COHEN & FORMAN, LLC
334 St. Paul Place
Baltimore, MD 21202

ASSIGNEES' AUCTION
                           
FOREST PARK

6 - UNIT
APARTMENT BUILDING

Sale On Premises
4001 MAINE AVENUE
Corner Oakfield Avenue
Baltimore, MD 21207

WEDNESDAY, OCTOBER 9, 2013
AT 11:00 A.M.

For directions from your location, visit: maps.google.com


     Under and by virtue of the power of sale contained in a certain Mortgage from Inter City Properties, LLC, dated December 5, 2007, and recorded among the Land Records of Baltimore City, Maryland, in Liber 10297, folio 505, said Mortgage having been assigned to the undersigned for foreclosure purposes, default having occurred under the terms thereof and at the request of the party secured thereby, the undersigned Assignees will sell at Public Auction, on the premises, the following:


     All that leasehold lot of ground and the improvements thereon, situate and lying in Baltimore City, State of Maryland and being more fully described in the above-referenced mortgage; lot size 80' x 190', more or less; subject to an annual $120 ground rent, payable semi-annually on the first days of May and November in each and every year.


     The property is improved by a covered porchfront three story cottage, believed to contain six apartment units, consisting of 2 one-bedroom units, 3 two-bedroom units and 1 three-bedroom unit. Each unit is believed to have baseboard electric heat and separate electrical meter. According to public tax records the building dates to 1920 and contains 4,512 square feet of living area, 1,344 square feet of basement space and 360 square foot garage.


     BLOCK PLAT (pdf)


     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, in advance of the auction, regarding the permitted uses of the property


     TERMS OF SALE:  A $15,000 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. The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Baltimore City at the Assignees' office. 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 stated in the foreclosed Mortgage, from date of sale to date of settlement. If settlement is delayed for any reason, there will be no abatement of interest. All adjustments as of date of sale. Taxes, ground rent 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 shall be responsible for obtaining physical possession of the property and assumes the risk of loss or damage to the property from the date of sale forward. The purchaser waives and releases the Assignees, the holder of the indebtedness, 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 Assignees are 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 Assignees, the holder of the indebtedness 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


David H. Cohen, Geoffrey L. Forman
W. Scott Tinney, Assignees