"Madison - East End" Brick Townhome

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Listing Details

Sold Price
$24,000
Auction Date
Auction Time
11:20 AM
Auction Note
Sale To Be Held: Baltimore City Courthouse, St. Paul St. Entrance
Address
2925 E. Madison Street, Baltimore, MD, 21205
County
Baltimore City
Neighborhood
Madison - East End
Scroll down for Complete Details, including: property description and Terms of Sale.

Moore, Carney, Ryan & Lattanzi, LLC
4111 E. Joppa Road, Suite 201
Baltimore, Maryland 21236

SUBSTITUTE TRUSTEES' SALE
                                        
MADISON - EAST END

BRICK TOWNHOME

Known As
2925 E. MADISON ST.
Off 700 Block of N. Curley St.
BALTIMORE, MD 21205

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

 

Sale to Be Held
Clarence M. Mitchell, Jr.
BALTIMORE CITY COURTHOUSE
ST. PAUL STREET ENTRANCE

Between Fayette & Lexington Streets
Baltimore City, MD 21202
Click here for directions from Google Maps


THURSDAY, JULY 28, 2011
AT 11:20 A.M.


      Under and by virtue of the power of sale contained in a certain Deed of Trust from 3249 Baltimore St. LLC to William  M. Loughran and Gary C. Loraditch, Trustees, dated May 18, 2006, and recorded among the Land Records of Baltimore City, MD, in Liber FMC 7883, folio 740, the holders of the indebtedness secured thereby having appointed Richard E. Lattanzi and/or Lisa M.L. Eisemann and/or Kristin H. Williams 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 courthouse steps, 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 property is being sold subject to an annual $84 ground rent and is improved by a two story brick porchfront townhome reportedly containing 6 rooms (3 bedrooms and bath); full basement;  gas forced hot air heat.  Lot size: 13' x 70', more or less.  Currently vacant.


      BLOCK PLAT (pdf)


      TERMS OF SALE:  A $2,500 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 10% of the purchase price within 24 hours at the office of the Auctioneers.  The holder of the indebtedness, if a bidder at the sale, shall not be required to post a deposit. 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 at the offices of the Substitute Trustees.  If payment of the balance does not take place within the specified time, the deposit will 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 stated in the foreclosed Deed of Trust Note, from date of sale to date of settlement.  All adjustments as of date of sale.  Net rents collected from the existing tenants by the Creditor, will be adjusted as of the date of sale and credited to the purchaser at the time of settlement.  Taxes, ground rent and all other public charges and assessments payable on an annual basis, 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.  The property will be sold in "AS IS" condition, without express or implied warranty as to the existing zoning and the nature and description of the improvements as contained herein;  subject to the rights of the existing tenants, if any, and subject to easements, agreements, restrictions or covenants of record affecting same, if any. Purchaser shall be responsible for obtaining physical possession of the property, subject to the rights of the existing tenants, if any, and assumes the risk of loss or damage to the property from the date of sale forward.  The purchaser waives and releases the Substitute Trustees, the holder of the indebtedness, 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 Substitute Trustees are 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 Substitute Trustees, Noteholder or Auctioneer.  Recordation costs, transfer taxes and all other costs incident to settlement, including a $300 document review fee by the Seller's attorney, to be paid by the purchaser.  Time shall be of the essence for the purchaser.  No Buyer's Premium!


      Authority to cancel this sale rests solely with the Substitute Trustees and/or the Auctioneer. Prospective buyers should disregard all other statements and comments made by any other person or entity regarding minimum bids, pricing and cancellations of the sale. Additional terms may be announced at the time of sale. The Substitute Trustees reserve: (1) the right to accept or reject any or all bids; (2) the right to modify or waive the requirements for bidders' deposits and terms of sale and/or settlement; (3) the right to withdraw the Property from the sale before acceptance of the final bid; and (4) the right to cancel or postpone the sale.


Richard E. Lattanzi, Lisa M.L. Eisemann,
Kristin H. Williams, Substitute Trustees