Absolute Auction Above $99,000 "Ocean City, MD" Oceanfront Condo Unit 2 Bedrooms, 2 Baths, 2 Car Parking

15465_atlantis-condominium-front-view.jpg

Listing Details

Sold Price
$240,000
Auction Date
Auction Time
12:00 PM
Address
Unit 1407 - 10300 Coastal Highway, Worcester County, MD, 21842
County
Worcester County
Neighborhood
Ocean City
Scroll down for Complete Details, including: property description and Terms of Sale.

ABSOLUTE AUCTION
To the Highest Bidder Above $99,000
                                
OCEAN CITY, MD.

- OCEANFRONT -
CONDOMINIUM UNIT
2 Bedrooms ◆ 2 Baths ◆ On-Site Parking

Sale On Premises
Unit 1407
Atlantis Condominium
10300 COASTAL HIGHWAY
Worcester County, MD 21842

SATURDAY, MARCH 9, 2013
AT 12:00 NOON


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 and square footage 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.

 

ATLANTIS CONDOMINIUM:

The Atlantis is a direct beachfront, 20 story high-rise apartment condominium building, constructed in 1975.  The structure is pre-cast concrete.  The Atlantis Condominium has an ocean side swimming pool, 3 self-service elevators, secure entry, around-the-clock security and assigned parking.  Located on the Coastal Highway at 103rd Street, the Atlantis is a short walk to restaurants, shopping, movies, attractions and entertainment.  Public bus service is along Coastal Highway. 


Link for Atlantis Condominium Web Site:
http://atlantisocmd.com

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

 

UNIT 1407:

Unit 1407 has direct ocean views from the living room, balcony and master bedroom.  The condo. is ideal for a homeowner and has great rental potential.  The apartment is located on the fourteenth floor and comprises 944 square feet, including:

  • Entry Foyer - ceramic tile floor, utility closet, owner's closet, coat closet
    Photos of auction property
     
  • Living Room/Dining Room - ceramic tile floor, sliding doors to 14' x 6' balcony
    Photos of auction property
    LIVING ROOM/DINING ROOM - PHOTO #1    PHOTO #2

     
  • Kitchen - ceramic tile floor, breakfast counter, GE electric range/oven, microwave, dishwasher, Frigidare refrigerator/freezer, stainless steel sink with disposal
    Photos of auction property
    KITCHEN - PHOTO #1    PHOTO #2

     
  • Master Bedroom - Berber carpeting, sliding doors to balcony, full en-suite Master Bath with ceramic tile wainscot and marble floor
    Photos of auction property
    MASTER BEDROOM - PHOTO #1    PHOTO #2    MASTER BATH

     
  • Bedroom #2 or Den - Berber carpeting
    Photos of auction property
     
  • Hall Bath - ceramic tile shower stall and ceramic tile floor
    Photos of auction property
     
  • Linen Closet
  • Laundry Closet - Kenmore stacking washer and dryer
    Photos of auction property


Mechanical
Electric forced warm air heat
Central air conditioning
Electric water heater
Separate electric panel and meter


Appliances and furnishings are included in the sale.


Condominium Fee - $393/month, which includes basic Direct TV


Parking - One assigned owner's space, one guest space


FLOOR PLAN (pdf)

 

REAL ESTATE TAXES

Published annual real estate taxes for 2012-2013 are $3,150, based on a full value assessment of $235,000.  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 unit is in fee simple and sold free and clear of all liens.  Worcester County Deed Liber 5963, folio 211.


Click this link for: Atlantis Condominium Resale Certificate and Condominium Documents (pdf)
Please note: This is a large (8 MB) Adobe Reader document and it may take a moment to download.

 

INSPECTION TIME

The unit may be inspected from 11:00 a.m. on the day of auction.  Preregistration is strongly suggested (but not required) - see below for the bidder registration form.

 

TERMS OF SALE

A $10,000 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, March 11, 2013, at the Auctioneer's office.  Balance to be paid in cash at settlement, which shall take place within 45 days.  If payment of the deposit or 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, condominium fees, all other public charges and assessments payable on a monthly or 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, including the Declaration, Bylaws, Rules and Regulations of the Atlantis Condominium, Inc.  Purchaser acknowledges receipt of the “Condominium Resale Package” and waives any right of rescission under Maryland condominium law.  Purchaser assumes the risk of loss from the date of sale forward.  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 Seller or Auctioneers.  Recordation costs, transfer taxes and all costs incidental to settlement to be paid by the purchaser except where otherwise mandated by local, State or Federal law.  Time is of the essence.


No buyer's premium.

 

 

 

 

 

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
ckessler@freedmont.com


For a list of additional auction-oriented lenders, see our Financing Page.

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