Opening Bid $250,000
ON 5.02± ACRES
12803 OLD MARLBORO PIKE
Off Ritchie Marlboro Road
Prince George's County, MD 20772
Bidding Opens - Friday, August 14, 2020
TUESDAY, AUGUST 18, 2020
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, 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.
12803 Old Marlboro Pike is conveniently located just off MD-4, about 1.5 miles west of the Upper Marlboro town center. The surrounding area is comprised of custom homes, existing housing subdivisions and new home construction communities. According to the Prince George's County online school locator, nearby schools are Barack Obama Elementary (K-5), James Madison Middle (6-8) and Dr. Henry A. Wise, Jr. High (9-12).
Generally rectangular lot - 224.74' x 977.59' comprising 5.02 acres of land. The front portion of the site is clear. The rear portion is wooded with mature trees.
Zoning RR, rural residential
For more information, see the: Prince George's County Zoning Code
Utilities - private well and septic, electricity, natural gas, Comcast internet
Asphalt driveway with parking for 10-20 vehicles. Any vehicles located on the premises will be removed prior to settlement.
Two-car attached vinyl sided garage
One-car detached concrete block garage and shop
One story brick ranch home, built in 1962, containing 1,617 square feet of living area, and 972 square feet of basement space, according to public tax records.
Exterior - all brick facade, architectural shingle roof with aluminum rainspouts, vinyl-clad casement windows, wood sun deck
Basement - at grade exit in rear, opportunity for in-law suite
Mechanical - gas hot water baseboard heat, central air conditioning, gas water heater, central vacuum system
The home needs updating and cosmetic repairs.
The property is in fee simple and sold free and clear of liens. Prince George's County Deed Book MEA 42137, Page 464.
Published annual real estate taxes are $4,970, based on a full value assessment of $405,200. 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: Assessment Appeal Process.
SUMMARY TERMS OF SALE:
Please see the contract of sale for complete terms.
A 10% deposit, payable by cashier's check or wire transfer, will be required of the purchaser within 24 hours of bid closing at the Auctioneer's office, 6500 Falls Road, Baltimore, MD 21209. Deposit funds shall be held by A. J. Billig & Co., LLC. 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 contract to date of settlement. All adjustments, including taxes, 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 contract 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 contract 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.