Go Back FridayOctober 14, 2016 — 11:30am
17 Oceanside Condominium Units To Be Sold Individually Located in The Waves Resort in Ocean City
13500 Coastal Highway, Units 201, 202, 203, 204, 205, 206, 207, 301, 302, 303, 304, 305, 306, 307, 401, 403 and 404 Ocean City, MD 21842
Trustee: James E. Clubb, Jr.
108 8th Street
Ocean City, Maryland 21842
Saturday October 1st from 11:00AM-1:00PM
Saturday October 8th from 12:00-2:00PM
Alex Cooper is proud to offer 17 condominium units in The Waves Resort in Ocean City, MD. Located on the Ocean side of Coastal Highway, The Waves Condominium building is just a short walk to the beach and close to lots of Ocean City restaurants and shops. Some units offer partial ocean views. The building offers an elevator, recently renovated indoor pool, is pet friendly and has ample parking with some under cover; and each unit includes 2 parking permits. Recent renovations to common areas include a new roof, facade, railings and the building walkways on each level.
Each unit to be offered individually.
Unit Breakdown & Pictures:
2 Bedroom, 2 Bath units (Large): Opening Bid $85,000 PER UNIT (Units 204, 304, 404). Condo fee: $810.00/Quarter
CLICK TO VIEW PICTURES OF A 2 BEDROOM LARGE UNIT
2 Bedroom, 2 Bath units (Small): Opening Bid $85,000 PER UNIT (Units 201, 207, 301, 307, 401). Condo fee: $608.00/Quarter
CLICK TO VIEW PICTURES OF 2 BEDROOM SMALL UNIT
3 Bedroom, 2 Bath units: Opening Bid $95,000 PER UNIT (Units 202, 203, 205, 206, 302, 303, 305, 306, 403). Condo fee: $900.00/Quarter
CLICK TO VIEW PICTURES OF 3 BEDROOM UNIT
Each unit features a Living room, dining room, full Kitchen and washer/dryer. All personal assets located in the units are included in the auction contract price. All units are currently vacant.
Property does not comply with FHA underwriting standards at this time.
Email Larry Cooper for Broker Coop Form
Units will be open day of sale at 9:00AM
EACH UNIT TO BE OFFERED INDIVIDUALLY
Note: 10/11/2016 @ 9:50AM, There will be no online bidding for this auction.
5% BUYERS PREMIUM PER UNIT ADDED TO THE HAMMER PRICE
Summary of Terms of Sale: A deposit in the form of cash, cashier's check or certified check for $10,000 PER UNIT is due at the time and place of sale. The difference to bring the deposit up to 10% is due Mon., Oct., 17th, 2016 by 4:00pm in the auctioneer's office, located at 908 York Road, Towson, MD 21204. If payment of the additional deposit 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. Settlement is 45 days from the sale date. The Purchaser will pay interest on the unpaid portion of the purchase price from date of sale to date of settlement at the rate of 10% per annum. 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 sale and assumed thereafter by the purchaser. Cost of all documentary stamps, settlement costs and transfer taxes to be paid by the purchaser. provided, however, that 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. The property will be sold in "As is" condition without express or implied warranty as to the nature and description of the improvements. The property will be sold subject to easements, agreements, restrictions or covenants of record affecting the same, if any. Dimensions and acreage are more or less. Time is of the essence as to the terms of this contract.
NOTE: Alex Cooper Auctioneers is acting as agent for the Owner in this transaction. Alex Cooper Auctioneers is not acting as agent for the successful bidder. Any buyer-broker is acting as an agent for the successful bidder and is not a sub-agent of Alex Cooper Auctioneers.
**NOTICE TO BUYER: IF YOU ARE CONTEMPLATING FINANCING FOR THIS PURCHASE,APPLICATION MUST BE MADE WITH A LENDER AND TITLE COMPANY NO LATER THAN SEVEN (7) DAYS FROM THE DATE OF THIS SALE.
The information contained herein was obtained from sources deemed reliable, but is offered for informational purposes only. The Auctioneer, the Sellers, and their respective agents and representatives do not make any representations or warranties with respect to the accuracy of the information contained herein. Prospective purchasers are urged to make their own inspection.