Upcoming Auctions

Summary terms of sale:  A deposit of $20,000 in the form of certified check, cashier's check or money order, at the time of sale will be required of all purchasers other than the holder of the Indemnity Deed of Trust or an affiliate. The deposit must be increased to 10% of the purchase price within 2 business days. Balance of the purchase price is to be paid in immediately available funds, within ten (10) business days after the final ratification of sale by the Circuit Court for Cecil County. If payment of the balance does not take place within ten (10) business days after ratification, the deposit will be forfeited and the property will be resold at the risk and expense of the defaulting purchaser. The defaulting purchaser shall not be entitled, in any event, to any surplus proceeds or profits resulting from any resale of the property. The Defaulting Purchaser agrees to pay attorney's fees to the Sub. Trustee in the amount of $1,250.00, plus costs, if the trustee has moved to resell the property. Purchaser waives personal service of any paper filed in connection with such motion on himself or any principal or corporate designee, and expressly agrees to accept service of any such paper by regular mail directed to the address provided by said bidder at the time of the sale. In the event the property is purchased by someone other than the note holder or an affiliate, interest shall be paid on the unpaid purchase money at the rate pursuant to the Indemnity Deed of Trust note from date of sale to the date funds are received in the office of the Substitute Trustee. In the event the settlement is delayed for any reason and the property is purchased by someone other than the note holder or an affiliate, there shall be no abatement of interest caused by the delay. Taxes, water, sewer, ground rent, condominium fees, and/or homeowners association dues, if applicable, to be adjusted to the date of sale and assumed thereafter by the purchaser. All other public charges and assessments payable on an annual basis, including sanitary and/or metropolitan district charges are to be adjusted for the current year to date of sale and assumed thereafter by the purchaser. Cost of all documentary stamps, recordation taxes and transfer taxes shall be borne by the purchaser. Purchaser agrees to pay $295.00 at settlement to the Seller's attorney for review of the settlement documents and an additional fee of $295.00 for review of any motion which may be subsequently filed with the Court to substitute a purchaser herein.