ABSOLUTE AUCTION
To The Highest Bidder Above $295,000
FENWICK ISLAND, DE
3 Bedroom • 2.5 Bath
WATERFRONT TOWNHOUSE
Condominium Unit With Pier
Sale On Premises
#23, "FENWICK LANDING"
38927 Madison Avenue, Off Route 54
Sussex County, DE 19975
SATURDAY, JUNE 4, 2011
AT 1:00 P.M.
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.
Fenwick Landing Condominium is a community of 26 townhomes, located on the Assawoman Bay, along the north side of Route 54, less than one mile west of the Atlantic Ocean. Enjoy spectacular sunsets from your deck, water access from your private pier or bike to the best beaches in Delaware and Maryland. Catch 54 and Harpoon Hannah's waterfront restaurants are within walking distance. Each has sailboat, jet ski and pontoon boat rentals. Every townhouse unit has assigned parking for two cars with additional parking on Madison Avenue.
WATERVIEW - PHOTO #1 PHOTO #2
VIEW OF BLOCK PARKING AREA
For directions from your location, visit: maps.google.com
Condominium fees of $525 per quarter, include swimming pool and common area maintenance.
The home is located in the Indian River School District, Roxana Fire District and Fenwick Island Sewer and Water District.
Condominium Resale Package (pdf) - note this document may take a moment to download.
Condominium Rules and Renter Information (pdf)
IMPROVEMENTS
Three story inside-group townhome, constructed in 1986.
Exterior
Clapboard siding
Composition shingle roof
Double glazed windows and doors
3 - decks facing Assawoman Bay
Balcony facing entrance
Concrete block foundation
Utility/Storage Room off deck
Boat Slip
First Floor
Second Floor
Third Floor
Mechanical
Electric heat pump and central air conditioning
Public water and sewer
REAL ESTATE TAXES
Total annual taxes for 2010 were $930.99.
TITLE
The property will be sold free and clear of liens. Deed Book 2224, Page 126.
INSPECTION TIME
One hour prior to the auction, or by appointment.
TERMS OF SALE
A $25,000 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, June 6, 2011, at the Auctioneer's office. Balance to be paid in cash within 45 days. If payment of the 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 an 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. A $6,600 special assessment by the Condominium Association, payable over three years, shall be adjusted to the 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, and subject to the Declaration, Bylaws and Rules of the Fenwick Landing Condominium. Purchaser assumes the risk of loss from the date of sale forward. The purchaser agrees to waive the right of rescission under Delaware Condominium 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. Time is of the essence.
No buyer's premium.
Broker participation is invited.
BROKER REGISTRATION FORM (pdf)
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
craig@greatloanofficer.com
For all other information please call 410-296-8440
OR EMAIL info@ajbillig.com