"Washington Village - Pigtown" 3-Unit, Corner Commercial Building

15148_washington825_front2.jpg

Listing Details

Sold Price
$75,000
Auction Date
Auction Time
3:00 PM
Address
825 Washington Boulevard, Baltimore, MD, 21230
County
Baltimore City
Neighborhood
Washington Village, Pigtown
Scroll down for Complete Details, including: property description and Terms of Sale.

Davis, Agnor, Rapaport & Skalny LLC, Solicitors
10211 Wincopin Circle - Suite 600
Columbia, MD 21044

SUBSTITUTE
TRUSTEES' AUCTION SALE

OF VALUABLE REAL PROPERTY AND ANY IMPROVEMENTS THEREON GENERALLY KNOWN AS

825 WASHINGTON BOULEVARD
BALTIMORE, MARYLAND 21230
                                                 
Washington Village - Pigtown

3 - Unit, Corner
COMMERCIAL BUILDING

Sale On Premises
825 WASHINGTON BOULEVARD
Corner Wyeth Street, Baltimore, MD 21230

THURSDAY, AUGUST 2, 2012
AT 3:00 P.M.

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


        Under and by virtue of the power of sale contained in a certain Purchase Money Deed of Trust, Security Agreement and Assignment of Contracts, Leases and Rents (the "Deed of Trust") from Godana 825, L.L.C., by Kevin Sampson, attorney-in-fact, to the Trustees named therein, dated September 20, 2005, and recorded among the Land Records of Baltimore City, in Liber 07467, Page 295, the holder of the indebtedness secured thereby (the "Noteholder") having appointed the undersigned to act as Substitute Trustees, in place and stead of the aforementioned Trustees, by instrument duly executed, acknowledged and recorded among the Land Records aforesaid, default having occurred under the terms thereof and at the request of the Noteholder, the undersigned Substitute Trustees will sell at Public Auction, on the premises located at 825 Washington Boulevard, Baltimore, MD 21230, the following:


        All that fee simple 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 Deed of Trust; lot size 14'6" x 65', more or less. (the "Property").  The Property has a tax account number of 21-07-0851-023.


        The improvements are believed to comprise a three story brick end-of-group storefront building, containing approximately 2,826 square feet of gross building area, comprising retail space (currently a barber shop) on the first floor, a one-bedroom apartment on the second floor, and a one- bedroom apartment on the third floor; separate gas heat and utility meters for each unit. The Property is believed to be located in a B-2-3 zoned, community business district.


       BLOCK PLAT (pdf)


        Additional Information


         Published annual real estate taxes - $4,305


         Rental history (provided by 2011 appraisal):

  • Barber shop - $785/month
  • Second floor apartment - $630/month
  • Third floor apartment - $650/month
    (one apartment is believed to be vacant)

         Leases may be voided by the foreclosure.


         Inspection – day of sale only


        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 or any affiliate or subsidiary, if a bidder at the sale, shall not be required to post a deposit or pay any interest on the unpaid purchase money and any payments that may be due from them may be made by crediting the amount thereof to the indebtedness secured by the Deed of Trust. Balance of the purchase price to be paid in cash at settlement, which settlement shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Baltimore City at the offices of the Substitute Trustees unless said period is extended by the Trustees, their successors or assigns. If payment of the balance does not take place within the specified time, the deposit shall, without further order of the Court at the sole option of the Trustees, be forfeited and the Property may, at the sole option of the Trustees, and in addition to any other legal or equitable remedies available to the Trustees, be resold at the risk and expense of the purchaser. In such event, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price sustained by Substitute Trustees and/or the Noteholder, all costs and expenses of both sales, reasonable attorneys' fees, and any other damages sustained by Substitute Trustees and/or the Noteholder including, without limitation, all consequential and incidental damages. The defaulting purchaser waives and shall not be entitled to any benefit from the resale of the Property including any surplus proceeds or profits from any such resale.  Interest to be charged on the unpaid purchase money, at the rate of ten percent per annum (10%), from date of the auction 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 the auction 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 any recourse or express or implied warranty of any kind as to the condition, value, nature or description of the Property or any improvements thereon; and subject to (i) senior liens and encumbrances that are not extinguished by the foreclosure sale of the Property, if any; (ii) all easements, ground rents, conditions, restrictions, rights of redemption, covenants, if any; (iii) such state of facts that an accurate survey or physical inspection of the Property might disclose, including any agreements of record affecting the Property; (iv) any environmental condition, matter or problem, if any, whether latent or otherwise; (v) all existing housing, building, and zoning code violations, encroachments; (vi) any rights of way, easements, conditions, agreements, restrictions or covenants of record affecting same, if any, and (vii) any governmental requirements affecting the Property that are not extinguished by the foreclosure sale of the Property. 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 Substitute Trustees, 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, for any reason, the Substitute Trustees did not have the right to sell the Property or they are, for any reason including denial of ratification of the sale by the Circuit Court for any reason, 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 Substitute Trustees, the holder of the indebtedness or Auctioneers. Recordation costs, transfer taxes and all other costs incident to settlement and conveyance to be paid by the purchaser. Time shall be of the essence for the purchaser.


        Authority to cancel this sale rests solely with the Substitute Trustees and/or the Auctioneer. Prospective buyers should disregard all other statements and comments made by any other person or entity regarding minimum bids, pricing and cancellations of the sale. Additional terms may be announced at the time of sale. The Substitute Trustees reserve: (1) the right to accept or reject any or all bids; (2) the right to modify or waive the requirements for bidders' deposits and terms of sale and/or settlement; (3) the right to withdraw the Property from the sale before acceptance of the final bid; and (4) the right to cancel or postpone the sale.


No Buyers Premium


Jeffrey T. Agnor and
Antonio P. Salazar, Substitute Trustees