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Sale In Lieu Of Partition: Single Family Home in "Rockville"

6 Maxim Lane, Rockville, MD 20852

Location: On the Premises

Sale to be held on the premises

By virtue of a Consent Judgment for Sale in Lieu of Partition, of the Circuit Court for Montgomery County, MD in the case entitled Alan A. Cohen and Harriet B. Cohen vs. Lynette C. Silverberg and Arnold M. Silverberg, Case No. 418168-V, the undersigned court appointed Trustee will offer for sale at public auction on the respective premises

ALL THOSE FEE-SIMPLE LOTS OF GROUND AND THE IMPROVEMENTS THEREON situated in Montgomery County, Maryland and more fully described as Tax ID Number 05-00361397 and 04-00176212.

The property is believed to be improved by a split level home containing 6 rooms (3 bedrooms), 2 baths, FWA gas heat and central air conditioning.

The property is currently tenant occupied with the lease beginning in 2016.  The rent will be $1,850 per month, and will increase $30 per month on an annual basis.  The lease will expire May 31st, 2019.

The properties will be sold in an "as is" condition and subject to conditions, housing or building code violations, restrictions, easements, tenancies and agreements of record affecting the same, if any and with no warranty as to the description of the improvements.

Broker Participation Welcomed, View The Property Listing In MRIS For More Information.

This sale is being held in conjunction with the following auction: 2904 Calverton Blvd., Silver Spring, MD 20904 CLICK HERE TO VIEW WEBSITE

Summary Terms of Sale: 5% BUYER’S PREMINUM WILL BE ADDED TO THE HAMMER PRICE. A deposit of $15,000 on each property, payable by certified check or cashier’s check will be required of the purchaser at time and place of sale. The deposit(s) is to be increased to ten percent (10%) of the purchase price within two (2) business days at the office of the auctioneer in the same form as the original deposit.  If payment of the additional deposit(s) is not made within the specified period, the deposit(s) will be forfeited and the property(ies) may be resold at the risk and expense of the defaulting purchaser.  Balance of the purchase price 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 Montgomery County. TIME IS OF THE ESSENCE FOR THE PURCHASER.  If payment of the balance does not take place within ten (10) business days of ratification, the deposit will be forfeited and the property(ies) will be resold at the risk and expense of the defaulting purchaser.  The defaulting purchaser shall not be entitled to any surplus proceeds or profits resulting from any resale of the property(ies).  Interest to be paid on unpaid purchase money at the rate of 7% per annum from date of sale to the date funds are received in the office of the Trustee. In the event the settlement is delayed for any reason, there shall be no abatement of interest caused by the delay. Taxes, water 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 to be adjusted for the current year to date of sale and assumed thereafter by the purchaser. Cost of all documentary stamps and transfer taxes shall be borne by the purchaser.  The purchaser shall be responsible for complying with all registrations imposed by the governmental authorities having jurisdiction over the property(ies) including but not limited to lead paint, and rental registration, if applicable.  Purchaser shall be responsible for obtaining physical possession of the property(ies).

If the Trustee 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, the sale shall be void and of no effect, and the purchaser shall have no further claim against the Trustee. The purchaser at the auction sale shall assume the risk of loss for the property(ies) immediately after the sale.

Trustee: John C. Monahan, Esquire, 204 Monroe St., Suite 105, Rockville, MD 20850: 301-251-1811

Click Here For The Full Sale Terms In PDF Format

Larry Cooper Auction Agent
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.