"Garwyn Oaks" Two and One-Half Story Colonial-Style Cottage (Sale price includes prior deed of trust.)

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Listing Details

Sold Price
$74,397
Auction Date
Auction Time
10:45 AM
Address
2404 Garrison Boulevard, Baltimore, MD, 21216
County
Baltimore City
Neighborhood
Garwyn Oaks
Scroll down for Complete Details, including: property description, additional photos, and Terms of Sale.

Additional Photos

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Robert S. Glushakow, Solicitor
Nolan, Plumhoff & Williams, Chartered
502 Washington Avenue - Suite 700
Towson, Maryland 21204
(410) 823-7800

SUBSTITUTE TRUSTEES' SALE
                              
GARWYN OAKS

Near Windsor Hills

TWO & ONE-HALF STORY
COLONIAL-STYLE COTTAGE

Possibly Arranged As 2 Apartments

Sale On Premises
2404 GARRISON BOULEVARD
Off 3400 Mondawmin Avenue
Baltimore, Maryland 21216


FRIDAY, JANUARY 30, 2009
AT 10:45 A.M.


For directions from your location, visit: MapQuest


        Under and by virtue of the power of sale contained in a certain Deed of Trust from Golden Management & Development Corp. to the Trustees therein, dated May 6, 2005, and recorded among the Land Records of Baltimore City, Maryland, in Liber 06625, Page 122, the holder of the indebtedness secured thereby having appointed Robert S. Glushakow and Douglas L. Burgess 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 party secured thereby, the undersigned Substitute Trustees will sell at Public Auction, on the premises, the following:

        All that leasehold 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.

        The improvements are believed to comprise a two and one-half colonial style cottage.  According to public tax records, the home was constructed in 1915 and contains 2,625 square feet of living area more or less.   The dwelling is believed to contain 9 rooms, including 6 bedrooms, and is believed to have 3 baths and enclosed porch and a one-car garage.

        The property, which is improved by a dwelling, will be sold in AS-IS, WHERE-IS condition and subject to conditions, restrictions, and agreements of record affecting the same, with no warranty of any kind, express or implied. The property being sold is subject to the payment of a ground rent in yearly amount of One Hundred and Twenty Dollars ($120.00) payable in half yearly installments on the 22nd days of October and April.  

        The property will be sold subject to a prior mortgage or deed of trust, with an unpaid principal balance  in the approximate amount of $16,500.00. The exact amount due under this loan will be announced at time of sale.


TERMS OF SALE

         A $10,000.00 deposit, payable by certified check or cashier's check will be required of the purchaser at time and place of sale. The deposit is to be increased to ten percent (10%) of the purchase price within twenty-four (24) hours at the office of the auctioneers.  No deposit will be required of  the Deed of Trust Noteholder or its wholly owned subsidiary if the property is purchased by the Deed of Trust Noteholder or its wholly owned subsidiary. Balance to be paid in cash at settlement, which shall take place within ten (10) business days following final ratification of the sale by the Circuit Court for Baltimore City. TIME IS OF THE ESSENCE FOR THE PURCHASER.  If payment of the balance does not take place within the specified time, the deposit shall be forfeited,  the property will be resold at the risk and expense of the defaulting purchaser, and the defaulting purchaser shall be required to pay a reasonable fee of not less than $750.00 as a payment for fees and costs associated with the procedures giving rise to the re-sale of the property.  The Deed of Trust Noteholder shall be entitled to all excess proceeds under a resale of the property.  Interest to be charged on the unpaid purchase money  at the rate stated in the foreclosed Deed of Trust Note, from date of sale to date of settlement.  All adjustments as of date of sale.  Taxes and all other public charges and assessments for the current year, 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. All costs incident to the settlement shall be paid by the purchaser with all costs of documentary stamps, transfer taxes and recording charges to be paid by the purchaser. The Substitute Trustees and the Deed of Trust Noteholder shall pay no costs of any kind for closing the transaction.  The property will be sold  in "AS IS WHERE-IS" condition, without express or implied warranty as to the nature, condition and/or  description of the improvements,  the ability of the property to be further developed or subdivided, the ability of the improvements to be divided into rental units, the ability of the property to obtain multiple family dwelling permits, the existence or non-existence of lead paint or any existent or latent environmental condition affecting the property and the improvements. The sale shall be subject to any housing code violations, easements, agreements, tenancies, restrictions and/or covenants of record affecting same, if any. Conveyance shall be by Substitute Trustees' Deed without covenant or warranty, express or implied.  The purchaser shall be responsible for complying with the registration of the property with those governmental entities having jurisdiction over the property,  if applicable.  If settlement is delayed for any reason, there will be no abatement of interest. This Advertisement may be amended or supplemented by oral announcements during the conduct of the sale, and any such announcements shall constitute further terms or conditions upon which the above described property will be offered for sale.  The Substitute Trustees may reject and withdraw a bid by a prospective bidding purchaser at sale, if the Substitute Trustees determine that any bid so offered is not commensurate with the value of the property being foreclosed upon. The highest bidder acknowledged by the Substitute Trustees shall be the Purchaser, and in the event of any dispute among the bidders, the Substitute Trustees shall have the sole and absolute final discretion to determine the successful bidder or to resell the property.  Purchaser shall be responsible for obtaining physical possession of the property, and the risk of loss shall be assumed by the purchaser from the date of sale.  If the  Substitute Trustees is unable to convey good and marketable fee simple 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 Deed of Trust Noteholder, the Solicitors  or Auctioneer.  The right to postpone, set over, or cancel the sale prior to the scheduled  sale is reserved by the Substitute Trustees.  Any such postponement, setting over, or cancellation will be announced on the scheduled date of sale.


Robert S. Glushakow and Douglas L. Burgess,
Substitute Trustees


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