"Central Park Heights" Three Story Detached Home

14291_spaulding3306_front2.jpg

Listing Details

Sold Price
$94,000
Auction Date
Auction Time
11:00 AM
Address
3306 Spaulding Avenue, Baltimore, MD, 21215
County
Baltimore City
Neighborhood
Central Park Heights
Scroll down for Complete Details, including: property description and Terms of Sale.

GORDON, FEINBLATT, ROTHMAN, HOFFBERGER & HOLLANDER, LLC
ATTORNEYS
233 EAST REDWOOD STREET
BALTIMORE, MARYLAND 21202

SUBSTITUTE TRUSTEE'S SALE
OF LEASEHOLD REAL PROPERTY

                                           
CENTRAL PARK HEIGHTS


THREE STORY DETACHED HOME
- Renovation Needed -

Sale on Premises
3306 SPAULDING AVENUE
Off 5000 Park Heights Avenue
BALTIMORE CITY, MARYLAND 21215

THURSDAY, OCTOBER 7, 2010
AT 11:00 A.M.

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


      Pursuant to the power of sale contained in that certain Purchase Money Deed of Trust dated December 4, 2008, and recorded among the Land Records of Baltimore City, Maryland in Liber F.M.C. No. 11382, folio 437 (the "Deed of Trust"), the undersigned, who were appointed substitute trustees under the Deed of Trust pursuant to a Deed of Appointment of Substitute Trustees, dated January 3, 2010, and recorded among the Land Records of Baltimore City, Maryland in Liber F.M.C. No. 12459, folio 413, will offer the property described in the Deed of Trust known as 3306 Spaulding Avenue, Baltimore, Maryland, for all the residue of the term of years yet to come and unexpired therein with the benefit of renewal forever subject to the payment of the annual rent of $120.00 payable in equal half-yearly installments on the 20th days of February and August in each and every year (the "Property"), for sale at public auction.


      The Property will be sold subject to: (i) all applicable conditions, liens, restrictions, rights of redemption, covenants, encumbrances and agreements of record; (ii) such state of facts that an accurate survey or physical inspection of such Property might disclose; and (iii) the payment of the annual rent of $120.00 payable in equal half-yearly installments on the 20th days of February and August in each and every year.


      The property is believed to be improved by a three story covered porchfront traditional home.


      BLOCK PLAT (pdf)


      TERMS OF SALE:  This advertisement, as amended or supplemented by any oral announcements during the conduct of the sale, constitutes the entire terms upon which the Property shall be offered for sale, sold or purchased.  A deposit in the amount of Five Thousand Dollars ($5,000) shall be required at the time and place of sale, payable by cashier's check drawn on a bank acceptable to the Substitute Trustees, in their discretion.  The deposit must be increased to 10% of the purchase price within 2 business days following the sale, in the form of certified check or cashier's check, at the auctioneer's office.  Balance due in cash, certified or cashier's check within ten (10) days following final ratification of the sale by the Circuit Court for Baltimore City, Maryland, unless said period is extended by the Substitute Trustees, their successors and assigns, at their discretion.  Settlement shall be held in the offices of the Substitute Trustees, as follows:  Gordon, Feinblatt, Rothman, Hoffberger & Hollander, LLC, The Garrett Building, 233 East Redwood Street, Baltimore, Maryland  21202-3332.  Interest to be paid on the unpaid purchase money by the purchaser at the rate of 15% per annum from date of sale to date of settlement.  The party secured by the Deed of Trust (the "Secured Party") or any affiliate or subsidiary thereof, or an entity under common control with the Secured Party, if a bidder, shall not be required to post a deposit or to pay interest on the unpaid purchase money.  The purchaser shall be responsible for all unpaid taxes, including both real estate and personal property taxes, assessed with respect to the Property, and all amounts due in connection therewith, including without limitation, all arrearages, interest, penalties, and all costs and expenses necessary to redeem the Property from tax sale, if applicable.  There shall be no adjustment for taxes assessed with respect to the Property.  All water and sewer charges, and all other public charges and assessments against the Property payable on an annual basis, including sanitary and/or metropolitan district charges, if any, shall be the responsibility of the purchaser, and there shall be no adjustment therefor.  All applicable recordation, sales, transfer and agricultural land transfer taxes shall be paid by the purchaser.  All obligations of purchaser hereunder shall survive closing and delivery of the deed.  If any dispute shall arise out of the sale of the Property, purchaser shall pay all costs and expenses of Substitute Trustees, including, but not limited to attorney's fees.  The purchaser (other than the Secured Party) shall be required to sign a contract including this ad and other terms.  Time is of the essence.


      Within three (3) business days following the sale, the purchaser shall provide evidence satisfactory to the Substitute Trustees, in their sole discretion, of liability and casualty insurance on the Property with the Substitute Trustees and the secured party named as additional insureds (as to liability coverage) and loss payees ATIMA (as to casualty).  Such policies shall contain a clause that they shall not be terminated without thirty (30) days written notice to the Substitute Trustees.  Such policies must be provided by an insurer, and with limits and under all other terms, satisfactory to the Substitute Trustees, in their sole discretion.  Purchaser's failure to provide evidence of such insurance shall be deemed a default, and in addition to any other remedies at law or in equity, the Substitute Trustees may obtain said insurance at the expense of purchaser, in which event, the purchaser shall reimburse the premiums incurred by Substitute Trustees at settlement.


      The Substitute Trustees reserve the right to require registration and/or pre-qualification of bidders, to modify or waive the requirements for bidders' deposits, to approve the creditworthiness of any bidder and final purchaser, to withdraw the Property from sale prior to acceptance of a final bid, to cancel the sale, to use an agent or attorney to conduct the sale, to reject any and all bids or to postpone the sale and keep the bidding open for any length of time, and to conduct other sales as the Substitute Trustees may determine in their discretion.


      The Property will be sold in an "AS IS" condition and without any recourse, representations or warranties, either express or implied, as to its nature, condition or description.  Neither the Substitute Trustees, the Secured Party nor any other party makes any warranty or representation of any kind or nature, expressed or implied with respect to: (i) the physical condition of, the description of, or title to the Property;  or (ii) zoning, subdivision or use of the Property.  The purchaser of the Property at the foreclosure sale shall be responsible for any code violations (and resulting fines) occurring on or about the Property, whether or not official notices thereof are issued, and for the risk of loss to the Property from and after the time of sale. Neither the Substitute Trustees, the Secured Party nor any other party makes any representation or assurances of any kind or nature, expressed or implied with respect to the purchaser's ability to obtain possession of the Property, and the purchaser shall be solely responsible for obtaining possession of the Property.   If the purchaser defaults, in addition to any other legal or equitable remedies available to them, the Substitute Trustees may declare the entire deposit forfeited, and, in addition, may resell the Property at the risk and cost of the defaulting purchaser.  In such event, the defaulting purchaser shall (i) be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, attorneys' fees and all other charges incurred by the Substitute Trustees; and (ii) not be entitled to any surplus proceeds resulting from the resale of the Property even if such surplus resulted from improvements to the Property made by or on behalf of said defaulting purchaser. 


      If the Substitute Trustees are unable to convey the Property by reason of any defect in the title or otherwise, the sole remedy of the purchaser of such Property at law or in equity shall be limited to the refund of the aforementioned deposit.  Upon refund of the deposit to purchaser, the sale shall be void and of no effect, and such purchaser shall have no further claims against the Substitute Trustees or the Secured Party.  The conveyance by the Substitute Trustees to the purchaser at settlement shall be by Trustee's Deed, without covenant or warranty. 


      The purchaser is responsible for, and the Property is sold subject to, any environmental matter or condition, whether latent or observable, that may exist at or affect or relate to such Property, and to any governmental requirements affecting same.  The purchaser waives, on their behalf and on behalf of their heirs, personal representatives, successors and assigns, any claims under all present and future environmental laws including, without limitation, the Comprehensive Environmental Response, Compensation and Liability Act of 1980, as amended.


      NOTE:  The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only.  The Auctioneer, the Substitute Trustees and the Secured Party do not make any representations or warranties with respect to the accuracy of such information.


NO BUYER'S PREMIUM!


Seth M. Rotenberg,

Lisa S. Spitulnik,

Substitute Trustees