Absolute Auction Above $395,000 "Ocean City, MD" Traditional Home on Lagoon Canal 5 Bedrooms, 3.5 Baths, 2-Car Garage, 3 Decks, Pier

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Listing Details

Sold Price
$395,000
Auction Date
Auction Time
11:00 AM
Address
101 Old Wharf Road, Worcester County, MD, 21842
County
Worcester County
Neighborhood
Ocean City
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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 Harvey L. Okun, Attorney
9199 Reisterstown Road, Suite 109
Owings Mills, MD 21117

 ABSOLUTE
ATTORNEY'S AUCTION
To the Highest Bidder Above $395,000
Previously Listed for $650,000
                               
OCEAN CITY, MD

5 Bedroom  3.5 Bath
TRADITIONAL HOME
Nearly 5,000 Sq. Ft.  2 Master Suites
Two-Car Garage  3 Decks  Pier

On Corner Lot & Lagoon Canal
Opposite Beach Entrance at 110th Street

Sale On Premises
101 OLD WHARF ROAD
a/k/a 10999 Coastal Highway
Worcester County, MD 21842

SATURDAY, JUNE 4, 2011
AT 11:00 A.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:

101 Old Wharf Road is located in north Ocean City, opposite the Golden Sands Condominium and public beach access.  The home is within walking distance of outstanding restaurants, night clubs and local shops.  Public transportation is at the door.   The home has a private pier and canal access to the Assawoman Bay, with scenic sunset views.

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

 

SITE AREA

Lot fronts 60' along Old Wharf Road, 125' along Coastal Highway, 50' along the lagoon canal leading to Assawoman Bay, and 100' in the rear, comprising approximately 6,250 square feet of land.


4-car concrete driveway (plus 2 car parking in garage)

Wood pier and seawall

Landscaping

Public utilities

Zoning R-1, residential


SUBDIVISION PLAT (pdf)

 

IMPROVEMENTS

Two story traditional home, constructed in 2000:


Exterior

Brick and vinyl siding

Composition shingle roof, aluminum rain spouts

Vinyl-clad double hung windows

Beveled glass entry door

Covered flagstone front porch

Two-Car Built-in Garage with storage area and pedestrian door

Deck along canal lagoon, two upper level decks


Interior

High ceilings

Large rooms

Crown moulding

Custom light fixtures

Nice finishes


First Level

  • Two story Foyer (12' x 11'), marble floor, large closet, crystal chandelier, decorative stairway to second floor
    Photos of auction property
    FOYER - PHOTO #1    PHOTO #2    CHANDELIER
     
  • Living Room (14' x 16'), carpeting
    Photos of auction property
     
  • Dining Room (24' x 9'9"), carpeting
    Photos of auction property
     
  • Half-Bath, ceramic tile floor
     
  • Kitchen (17' x 23'9"), ceramic tile floor, breakfast booth, work island with Whirlpool electric range, Whirlpool refrigerator/freezer, wall oven, dishwasher, stainless steel sink with disposer, French doors to deck on canal
    Photos of auction property
    KITCHEN - PHOTO #1    PHOTO #2
     
  • Study alcove
    Photos of auction property
     
  • Master Bedroom Suite #1 (19' x 17'), large walk-in closet (14' x 7'), ceramic tile Master Bath with whirlpool tub, shower stall, double sink vanity, linen closet
    Photos of auction property
    MASTER SUITE #1 - PHOTO #1    PHOTO #2    PHOTO #3
     
  • Laundry closet with Maytag washer and dryer


Second Level

  • Loft (14' x 14') overlooking foyer, carpeting
    Photos of auction property
    LOFT    CHANDELIER
     
  • Great Room (21'9" x 28') - carpeted family room area with ceiling fan, kitchen with vinyl floor, whirlpool microwave, range/oven, refrigerator/freezer and work island, balcony
    Photos of auction property
    GREAT ROOM - PHOTO #1    PHOTO #2
     
  • Master Bedroom Suite #2 (15'8" x 21'10"), carpeting, balcony overlooking canal, large walk-in closet (10'7" x 8'6", ceramic tile Master Bath with whirlpool tub, shower stall and double sink
    Photos of auction property
    MASTER SUITE #2 - PHOTO #1    PHOTO #2    PHOTO #3
     
  • Bedroom #3 (14' x 14'), carpeting
    Photos of auction property
     
  • Bedroom #4 (15'9" x 9'9"), carpeting
    Photos of auction property
     
  • Bedroom #5 (18' x 15'), carpeting
    Photos of auction property
     
  • Full ceramic tile Hall Bath
     
  • Attic with pull-down stairs


Note - the furniture is not included in the sale.


Mechanical

Zoned Carrier heat pumps and central air conditioning - one for each level

2 - 200 ampere electrical boxes

Electric water heater

 

REAL ESTATE TAXES

 Published annual real estate taxes IN 2010 were:

State/County Tax

Ocean City Tax

$ 4,707

     2,290

TOTAL

$ 6,997

   

 

TITLE

The property is in fee simple and sold free and clear of liens.  Deed Liber 2585, folio 465.  There is an optional homeowners association with dues of $20 per year.

 

INSPECTION TIME

From 9:30 a.m. on the day of sale or by appointment with the Auctioneers.

 

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 by 12 noon on Monday, June 6, 2011 at the Auctioneer's office.  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 a monthly or 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.  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.


Broker participation is invited.
BROKER REGISTRATION FORM (pdf)

 

FINANCING

Call for pre-qualification and financing options:

Mr. Craig Kessler
Freedmont Mortgage Funding

50 Scott Adam Road
Hunt Valley, Maryland  21030
410-654-3900 direct
410-702-4511 fax
craig@greatloanofficer.com

For all other information please call 410-296-8440
OR EMAIL info@ajbillig.com