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Go Back MondayJune 27, 2011 — 10:00am


Substitute Trustees' Sale: Four Bedroom, Two and a half Bath Single Family Home in "Mitchellville"

SOLD for $352,000

2901 St. Regis Way, Mitchellville, MD 20721


ALL OF THAT real property and the improvements thereon being situated in Prince George's County, Maryland (the "Property"), and being more particularly described as follows:

BEING KNOWN AND DESIGNATED as Lot Numbered One Hundred Twenty-Three (123), in a subdivision known as "Plat 7, Section Ten, WOODMORE" as per plat thereof recorded in Plat Book NLP 146 at Plat No. 13, among the Land Records of Prince George's County, Maryland.

Being part of the same property granted and conveyed by Deed recorded March 6, 1987, among the Land Records of Prince George's County, Maryland, in Liber 6576, folio 622.

The street address of the Property is 2901 St. Regis Way, Mitchellville, Maryland, 20721.

The Property is believed to be improved by a 3,436 square foot, two-story, single family home built in 1995, with four bedrooms, 2.5 baths, a deck, two fireplaces, and a covered front porch.

Terms of sale: A deposit in the amount of Fifty Thousand Dollars ($50,000.00), payable in cash, certified check, or other form acceptable to the Trustees, will be required of the purchaser(s) at the time and place of sale. The balance of the purchase price shall be due in cash or by certified check with interest on the unpaid balance of the purchase price at the rate of ten percent (10%) per annum from the date of sale to and including the date of settlement. In the event the Noteholder, or an affiliate thereof, is the successful bidder at the sale, such party will not be required to make a deposit or to pay interest on the unpaid purchase money. Taxes, water rent, and all other municipal charges and liens owed against the Property shall be the responsibility of the purchaser(s) and shall be paid by the purchaser(s) at settlement. In addition, all other charges, expenses, and liens owed against the Property, including, but not limited to, all condominium fees and expenses and public charges and assessments owed against the Property and payable on an annual basis, such as sanitary and/or metropolitan district charges, if any, shall also be the responsibility of the purchaser(s) and shall be paid by the purchaser(s) at settlement. The cost of all documentary stamps, recordation taxes, document preparation, and transfer taxes is to be paid by the purchaser(s). The Trustees reserve the right to reject any and all bids and to extend the time for settlement, at their discretion.

The Property will be sold in an "AS IS" condition and without any warranties or representations, either express or implied, as to the nature, condition, or description of the improvements. In addition, the Property will also be sold subject to all existing housing, building, and zoning code violations, subject to all critical area and wetland violations, subject to all environmental problems and violations which may exist with respect to the Property, and subject to all matters and restrictions of record affecting the same, if any. The purchaser(s) at the foreclosure sale shall assume the risk of loss for the above-referenced Property immediately after the sale takes place. It shall be the purchaser(s)' responsibility to obtain possession of the Property following ratification of its sale by the Circuit Court for Prince George's County, Maryland, and conveyance of the Property by the Trustees to the purchaser(s).

The Property will be sold subject to all senior liens and encumbrances that are not extinguished by operation of law or by the foreclosure sale of the Property and subject to all easements, conditions, restrictions, rights of redemption, covenants, such state of facts that an accurate survey or physical inspection of the Property might disclose, and agreements of record affecting the Property.

The purchaser(s) shall pay at settlement all state and local transfer taxes, documentary stamps, recordation taxes and fees, title examination costs, attorneys' fees, conveyance fees, and all other incidental settlement costs. The purchaser(s) shall settle and comply with the terms of sale within twenty (20) days following the final ratification of the sale by the Circuit Court for Prince George's County, Maryland, unless said period is extended by the Trustees for good cause shown. Time is of the essence. Settlement shall be held at the offices of Funk & Bolton, P.A., 36 South Charles Street, Twelfth Floor, Baltimore, Maryland, 21201.

In the event the purchaser(s) fail to go to settlement as required, in addition to any other legal or equitable remedies available to them, the Trustees may, without further order of the court, declare the aforementioned deposit forfeited and re-sell the Property at the purchaser(s)' risk and expense. In such event, the defaulting purchaser(s) shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, reasonable attorneys' fees, all other charges due, and incidental damages. In the event the resale of the Property results in a sale in excess of the amount originally bid by the defaulting purchaser, the defaulting purchaser waives any and all claims, rights, and interest in any such excess amounts and shall not be entitled to any distribution whatsoever from the resale proceeds. The parties' respective rights and obligations regarding the terms of sale and the conduct of the sale shall be governed by and interpreted according to the laws of the State of Maryland.

If the Trustees are unable to convey the Property as described above, the purchaser(s)' sole remedy at law or in equity shall be limited to the refund of the aforementioned deposit, without interest thereon. Upon refund of the deposit to the purchaser(s), the sale shall be void and of no effect, and the purchaser(s) shall have no further claim against the Trustees or the Noteholder.

The information contained herein was obtained from sources deemed to be reliable, but is offered for informational purposes only. The Auctioneer, the Noteholder, and the Trustees do not make any representations or warranties with respect to the accuracy of this information.

Click Here For The Full Sale Terms In PDF Format


Bradd Caplan Auction Agent
443-470-1428
PLEASE NOTE
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.