Absolute Guardian's Auction Above $10,000 Per Lot "Ocean City - Cape Isle of Wight" 3 - Residential Lots In Water Privileged Community

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Listing Details

Sold Price
$112,000
Auction Date
Auction Time
2:00 PM
Address
Walthan & Windsor Roads, Worcester County, MD, 21842
County
Worcester County
Neighborhood
Ocean City, Cape Isle of Wight
Scroll down for Complete Details, including: property description and Terms of Sale.

Alisa Kobrinetz Chernack, LLC
3300 North Ridge Road - Suite 235
Ellicott City, MD 21043

★ ABSOLUTE ★
GUARDIAN'S AUCTION
Subject to Minimum Opening Bid of $10,000 Per Lot
                        
OCEAN CITY
"Cape Isle of Wight"

3 - RESIDENTIAL LOTS
In Water Privileged Community
To Be Offered Individually & As An Entirety

Sale On Premises - Northwest Corner
WALTHAN & WINDSOR ROADS
US-50 to Keyser Point Road north to Windsor Road
Turn left on Windsor Road One Block to Lots
Worcester County, MD 21842

FRIDAY, MARCH 30, 2012
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, in advance of the auction, regarding the permitted uses of the property.

LOCATION & DIRECTIONS:

Cape Isle of Wight is a single family home subdivision located in West Ocean City, along the western shore of Isle of Wight Bay and about one mile north of US Route 50.  The neighborhood is within five minutes drive of some of the Atlantic Ocean's finest beaches.  Abundant dining, shopping and recreational facilities are nearby, including at least a dozen golf courses, fishing centers and marinas.  The neighborhood is occupied by seasonal homeowners and year-round residents.  Housing styles vary and homes are typically well maintained.  A pier and boat ramp provide water access by a lagoon about 250' north of the lots on Walthan Road.

Photos of auction property
WATER VIEW    PIER & BOAT RAMP
NEIGHBORHOOD HOUSES - PHOTO #1    PHOTO #2    PHOTO #3

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

 

SITE AREA

The property is comprised of three, contiguous residential lots, situated along the west side of Walthan Road and north side of Windsor Road.  The lots include 10' of an unconstructed 20' alley in the rear of each.  All three lots are located on Block 24, Section C, Cape Isle of Wight, as per plat thereof recorded among the Land Records of Worcester County in Plat Book E.W.R. 1, folio 5.  Public tax records indicate that each lot is 0.21 acre.  Based on the record plat, the lots appear to be slightly larger.

Photos of auction property
SITE VIEW #1    SITE VIEW #2
VIEW FROM CORNER


Lot 1 is the corner lot, fronting approximately 58' along Walthan Road, 139' along Windsor Road and a rear lot line of 72'.


Lot 2 is approximately 59' x 186' and adjoins Lot 1.


Lot 3 is approximately 59' x 186' and adjoins Lot 2.


The lots are mostly level, grass covered and have a few small trees.  Walthan and Windsor Roads are macadam paved streets.  Zoning is R-2, residential.  Each lot is believed (but not warranted) to be buildable and would require a private well.  Worcester County authorities indicate that the properties have public sewer available.  For additional information please consult the following link: http://www.co.worcester.md.us


SUBDIVISION PLAT (pdf)

 

REAL ESTATE TAXES

Published real estate taxes and full value assessments for 2012:

  Annual Taxes        Current Assessment
Lot 1        $901.60 $112,000
Lot 2 $902.40 $112,100
Lot 3 $902.40 $112,100


Purchasers may petition for a reduction in the assessment of their property in conjunction with a purchase price substantially less than the currently assessed value of the property. Purchasers are encouraged to contact the Maryland State Department of Assessments & Taxation concerning the appeals process, and may see the following link for helpful information:
http://www.dat.state.md.us/sdatweb/appeal.html

 

TITLE

The lots are in fee simple and sold free and clear of liens.  The property is described in two deeds recorded in the Worcester County Land Records at Liber 631, folio 401 and Liber 631, folio 407. To view the deeds, including covenants and restrictions of record, click the following link:
DEED #1 (pdf)   and  DEED #2 (pdf)

 

TERMS OF SALE

A $5,000 deposit per lot, or $15,000 if sold as an entirety, 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 by 3:00 p.m. on Monday, April 2, 2012, by wire transfer or cashier's check, at the Auctioneer's office (if necessitated by the bid amount).  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, 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 waives and releases 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. 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, transfer taxes and all costs incidental to settlement to be paid by the Purchaser.  Time is of the essence.


No buyer's premium.


Auction by order of:
Alisa Kobrinetz Chernack, Esquire
Guardian of the Property of Irene Mooney


BIDDER PRE-REGISTRATION

Online pre-registration is now closed. Please register with the Auctioneer at the auction site.


BROKER COOPERATION:

Broker participation is invited. See our: BROKER REGISTRATION FORM (pdf). 

The completed form must be returned to the Auctioneer's office by 5:00 P.M. on Thursday, March 29, 2012.

 

FINANCING

 See our Financing Page for a list of auction-oriented lenders.