Michael E. Blumenfeld, Solicitor
Timothy M. Hurley, Solicitor
MILES & STOCKBRIDGE, P.C.
10 Light Street, Baltimore, MD 21202
SUBSTITUTE TRUSTEES' AUCTION
Formerly Part of "Helmore Farm"
MAGNIFICENT THREE STORY COLONIAL
7 Bedrooms ● 5 Full Baths ● 2 Half-Baths
Circa 1763 8,471 Sq. Ft.±
Sale On Premises
903 GREENSPRING VALLEY ROAD
Between Greenspring Avenue & Falls Road
Lutherville, Baltimore County, MD 21093
FRIDAY, JUNE 10, 2011
AT 11:00 A.M.
Open for Inspection: 9:30 a.m. on the day of the auction only.
For directions from your location, visit: maps.google.com
Under and by virtue of the power of sale contained in a certain Deed of Trust from Henry L. Cole, Jr. and Joanne K. Cole to the Trustee therein, dated March 29, 2000, and recorded among the Land Records of Baltimore County, Maryland, in Liber 14403, folio 383, the holder of the indebtedness secured thereby having appointed Michael E. Blumenfeld and Timothy M. Hurley to act as Substitute Trustees, in place and stead of the aforementioned Trustee, 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 fee simple lot of ground and the improvements thereon, situate and lying in Baltimore County, State of Maryland and being more fully described in the above-referenced Deed of Trust. The property comprises 2.0 acres of land, surrounded by a scenic easement.
DEED, RIGHT-OF-WAY AGREEMENT & PLAT (pdf) - Please note: this is a large file and may take some time to download.
The property is improved by a three story stucco Colonial home with slate roof, 44' covered front porch, circular driveway and manicured grounds - former Decorator Showhouse. According to public tax records, the home was constructed in 1763, comprises 8,471 square feet of living area and 3,887 square feet of basement space. Interior finishes include hardwood floors, plaster walls, 11' ceilings on first floor, crown and chair mouldings, high quality plumbing and electrical fixtures. The home is believed to contain:
KITCHEN - PHOTO #1 PHOTO #2 PHOTO #3
LIVING ROOM - PHOTO #1 PHOTO #2
DINING ROOM LIBRARY FOYER
WET BAR FAMILY ROOM RECREATION ROOM
MASTER BEDROOM MASTER BATHROOM
Third Floor - paneled and carpeted recreation/billiard room (24' x 22'), bedroom #6 (22' x 15'), bedroom #7 (14' x 12') with full bath and separate shower, sauna and cedar closet (29' x 12').
Lower Level - family room (23' x 23'), office (14' x 13'), half-bath, unfinished storage and mechanical rooms.
Mechanical - updated, zoned oil forced air heat and central air conditioning, updated well and septic, 150-gallon propane tank.
The home has front and rear stairways, a large gazebo, stone patio, deck, fenced dog pen, and may have access to an inground pool and bathhouse.
Taxes - $2010 annual real estate taxes were $30,903, based on the full value tax assessment of $2,547,270. Note - If any real property is transferred after January 1 and before the beginning of the next taxable year to a new owner, the new owner my submit a written appeal as to a value or classification on or before 60 days after the date of the transfer.
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.
TERMS OF SALE: A $30,000 deposit, payable by certified check or cashier's check, will be required of the purchaser at time and place of sale. If, necessitated by price, the deposit shall be increased to 10% of the purchase price within 24 hours at the Auctioneer's Office. 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 County at the offices of the Substitute Trustees. 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 stated in the foreclosed Deed of Trust Note, from date of sale to date of settlement. If settlement is delayed for any reason, there will be no abatement of interest. All adjustments as of date of sale. Taxes 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 nature and description of the improvements as contained herein; 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 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, the holder of the indebtedness or Auctioneers. 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 Buyers Premium
Michael E. Blumenfeld and Timothy M. Hurley,
Broker participation is invited.
BROKER PARTICIPATION FORM (pdf)