Ashland Auction Group

905 Druid Park Lake Dr. Baltimore, MD 21217

Multi Unit

Waterfront

Development Opportunity

10260

Zoning

R-10

Sold Subject to Seller Confirmation.
Online
This Auction has Ended

Current Bid:

$625,000.00

Reserve not met

Pre-auction authorization:

$10,000

Highest Bidder:

s****f

Initial Deposit:

$50,000

Bidding complete
Sold Subject to Seller Confirmation
Auction Begins 11/15 10:00 AM Auction Ends 11/17 11:00 AM

Set up as 8 Units | +/- 10,260 SF | Waterfront Development Opportunity | Reservoir Hill
ATTENTION INVESTORS~
MASSIVE Apartment Building (set up a 8 units) located in the Reservoir Hill area.
A PRIME WATERFRONT LOCATION you won’t want to miss!
ACROSS THE STREET from the Maryland Zoo. Just MINUTES to Coppin State University,
Johns Hopkins University, and the Maryland Institute College of Arts.
Convenient Access to Major Traffic Arteries Druid Hill Ave, I-83 (Jones Falls Expy) & MD Route 1 (W North Ave)
Property is Vacant. See Below for More information.

Property Is Believed to Be Set up As:

Unit 1
• Two Bedrooms
• Two Bathrooms
• Balcony approved for unit 1


Unit 2
• Two Bedrooms
• Two Bathrooms
• Balcony approved for unit 2


Unit 3
• Two Bedrooms
• Two Bathrooms
• Balcony approved for unit 3


Unit 4
• Two Bedrooms
• Two Bathrooms
• Balcony approved for unit 4


Unit 5
• Two Bedrooms
• Two Bathrooms
• Balcony approved for unit 5


Unit 6
• Two Bedrooms
• Two Bathrooms
• Balcony approved for unit 6


Unit 7
• One Bedroom
• One Bathroom


Unit 8
• One Bedroom
• One Bathroom


(For More Information, Please Click our Documents Tab)



*The buyer of the said property will be required to provide Proof of Funds and a Construction Timeline for approval by Baltimore City Government DHCD-Code Enforcement Division. Buyer will be required to provide the above to DHCD prior to settlement.

Occupancy: Property is Vacant.
Year Built: 1920
Lot Size: 62X133-3
Real Estate Taxes (2021-2022): $5,059.84
Title: Fee Simple. Sold free and clear of all liens.
Inspection Time: Call Office for Details.
Deposit: The initial deposit amount is listed above. All deposits must be cash or certified funds.
Disclaimer: * To Inspect Property, Prospective Purchasers will Need to Sign & Return the Hold Harmless agreement located in documents tab. Purchaser responsible for independently verifying + obtaining all zoning permissions, usages etc. *Property is in need of renovations. *The buyer of the said property will be required to provide Proof of Funds and a Construction Timeline for approval by Baltimore City Government DHCD-Code Enforcement Division. Buyer will be required to provide the above to DHCD prior to settlement in order for closing to occur.
Auction ID: A-000002170

Bidder Registration Process
All bidders will be required to validate their account and post a $10,000 Good Faith Authorization Charge prior to being able to place a bid.
The Good Faith Authorization Charge will open 10 minutes prior to the auction start date.
Click the Terms tab below to view full terms of Credit Card Good Faith Authorization Charge.

What is a Good Faith Authorization Charge?
A Good Faith Authorization Charge will not go towards the purchase of the property, and it is not a deposit. It is a hold that allows us to validate your account and confirm that you are a serious bidder.
Once the authorization is approved, this charge will appear as a hold on your credit card. If you are using a debit card, the Good Faith Authorization Charge will appear as a pending transaction. Acceptable Payment Methods: Visa, Mastercard, Discover, and American Express.
Click here to add a credit card to your account if you do not already have a valid credit card on file.

Confirm Your Good Faith Authorization Charge
Once bidding is open, you will be required to confirm that you want to participate in the auction by clicking "Bid Now." If you have not added a credit card to your account yet, you will be prompted to do so at this time.  Once your Good Faith Authorization Charge is posted, you will be able to participate in the auction.


 

Pre-Auction Offers can be submitted via:

• Form: Contact Us

• Phone: 410-488-3124

• Email: Sales@AshlandAuction.com

Pre-Auction Offers can only be submitted before the start of the online auction.

• 10% Buyer's Premium will be added to the high bid.

• Title: Property will be sold with free and clear title.

• Settlement: 60 days from date of contract ratification.

• Winning Bidder is required to tender deposit within 24 hours via certified funds in the form of cash, cashier’s check, or bank wire. Deposit to be raised to 10% of the total purchase price within 72 hours.

• Winning Bidder is required to sign and return a contract of sale within 24 hours.

• If either the deposit or contract is not received the bid will be voided and Ashland Auction Group reserves the right to terminate the bidder’s account.
 

• Bidders are bound by AshlandAuction.com’s Terms of Use

• Ashland Auction Group will not be responsible for any errors in bidding, website failure, or internet disruption.

• Each bid made on a property in the last two minutes of an auction will add more time to the auction. This will continue indefinitely until the time expires without new bids being placed. A soft close ensures fairness and allows the highest bidder to win.


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. The purchaser agrees to waive the right of inspection for lead paint, as provided under current Federal and State law. Property is sold subject to any Local, State or Federal Government Housing Code Violation Notices or Vacant House Notices issued by Local, State or Federal Government. In addition, the purchaser shall independently verify if a use and occupancy permit exists on the subject property by Local, State or Federal Government. It is the purchaser’s responsibility to obtain any use and occupancy permit, if needed. The purchaser waives and releases the Trustee, 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 Trustee/ 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 Trustee/ Seller or Auctioneers. All expenses, including real estate taxes, sanitary and/or metropolitan district charges, special assessment and private utility charges are to be adjusted to date of contract settlement and assumed thereafter by the purchaser. In the event that the property is occupied, the Purchaser is purchasing the property subject to the existing occupants of record. Purchaser is responsible for obtaining possession of the property. Purchaser assumes risk of loss from the date of contract ratification forward. Seller agrees to give rights of possession at time of contract settlement.

Recordation costs, transfer taxes and all other costs incident to settlement, to be paid by the purchaser. However, if the Property is improved residential real property, and if Buyer is a first time Maryland homebuyer as defined in MD Tax Property Code §13-203(b), as from time to time amended, who will occupy the Property as Buyer's personal residence, then Seller shall pay the state transfer tax of 0.25% to the extent required by law. If payment of the additional deposit, if any, or the balance of the purchase price is not made within the specified periods, the deposit will be forfeited and the property may be resold at the risk and expense of the defaulting purchaser. Time shall be of the essence.

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. Property dimensions, square footage, number of bedrooms, number of bathrooms, number of levels in property and acreage are more or less and should be independently verified by the bidder. Photos placed on website are for information purposes only and shall be independently verified by buyer.
 

If the property is Tenant occupied, it is being sold subject to the existing Tenant or Occupant in the property.  The Bidder shall independently verify all lease documents. Ashland Auction Group, LLC does not guarantee if the tenant is current on rental payments. Ashland Auction Group, LLC does not guarantee the occupancy status of a tenant, nor is Ashland Auction Group, LLC responsible for a tenant breach of lease agreement or vacating property during the advertised auction period, closing, or post-closing, if any. Property is sold subject to any valid or invalid MDE Lead Certification from the Maryland Department of the Environment. Ashland Auction Group does not warrant the accuracy of any MDE Lead Certifications, if any. It is Buyer’s responsibility to verify with all Local, State and Federal Governments if any other licensing requirements are required.

All properties are being sold subject to any ground rent of record. In the event there is an error in the advertised ground rent or the contract states “Fee Simple”, the Buyer shall take title with the existing ground rent of record and there shall not be a monetary penalty to the seller. Prospective purchasers are encouraged to perform their own due diligence and inspections in advance of the auction.


Ashland Auction Group, LLC is acting as agent for the Seller in this transaction and or Auction.  Ashland Auction Group, LLC is not acting as agent for the any bidder or any successful bidder regarding pre-auction offers, offers online, onsite auction or post auction offers.
 

Any person or real estate agent submitting bids on behalf of a buyer, corporation, or other entity agrees to be personally liable for the payment of the purchase price and any related charges and the performance of all Buyer obligations under the Terms of Sale.

Registered Brokers or Agents who represent bidders for pre-auction, on-site auctions, online auctions, or post-auction listings are acting as an agent for the buyer and not a sub-agent for Ashland Auction Group, LLC. 

2.0% Broker Co-Op. Agents must register 48 hours in advance of the start of the auction. Additional terms and conditions are listed at: www.ashlandauction.com/broker


Good Faith Authorization Charge Required: All bidders will be required to post a Good Faith Credit Card Authorization Charge to establish themselves as a bona fide bidder. Failure to return an executed Contract of Sale, required addenda, and the stated deposit, as specified in the advertised listing, is a breach of the auction’s Terms of Sale. Bidders hereby authorize Ashland Auction Group, LLC to charge the credit card used to register for the auction to satisfy part or all of the liquidated damages owed to Ashland Auction Group, LLC.

BY PLACING A BID, BIDDERS ACKNOWLEDGE AND AGREE THAT A FAILURE TO EXECUTE A CONTRACT OF SALE WITH A DEPOSIT MAY RESULT IN SUBSTANTIAL ECONOMIC DAMAGES AND LOSSES OF TYPES AND IN AMOUNTS WHICH ARE IMPOSSIBLE, IMPRACTICAL, OR OTHERWISE EXTREMELY DIFFICULT TO ESTIMATE THEREOF.

ACCORDINGLY, IN LIEU OF ACTUAL DAMAGES OF SUCH DELAY, BIDDERS HEREBY AUTHORIZE ASHLAND AUCTION GROUP, LLC TO CHARGE THEIR CREDIT CARD TO SATISFY PART OR ALL OF THE LIQUIDATED DAMAGES, DUE TO ASHLAND AUCTION GROUP, LLC.

IN ADDITION TO THE LIQUIDATED DAMAGES WHICH IS NOT A PENALTY SET-FORTH ABOVE, BIDDERS ACKNOWLEDGE AND AGREE THAT THEIR NON-PERFORMANCE AND EXECUTION OF A CONTRACT OF SALE MAY RESULT IN ADDITIONAL DAMAGES TO THE SELLER AND ASHLAND AUCTION GROUP, LLC. SELLER AND ASHLAND AUCTION GROUP, LLC RESERVE THE RIGHT TO PURSUE ANY AND ALL LEGAL REMEDIES AVAILABLE AT LAW OR EQUITY, INCLUDING THE RIGHT TO MAINTAIN AN ACTION FOR SPECIFIC PERFORMANCE OR TO HAVE THE PROPERTY SOLD AT THE RISK AND EXPENSE OF THE NON-PERFORMING BIDDER.  CONSEQUENTLY, BIDDERS AGREE TO PAY THE SELLER AND ASHLAND AUCTION GROUP, LLC FOR ANY COSTS ACTUALLY INCURRED BY THE NON-PERFORMING BIDDER RELATED TO THE HOLDING, MARKETING, OR RESALE OF THE PROPERTY.

Notice: Bids are legally binding. Bids placed on AshlandAuction.com are bound by AshlandAuction.com’s Terms and Conditions (see AshlandAuction.com’s Terms).


 

905 Druid Park Lake Dr.
Baltimore, Maryland 21217
United States