Valuable Real Estate & Acreage Near Ocean City, MD
Saturday, 9 Jul, 2005 11:00 AM Selling for Bob Gray
11717 St. Martin's Neck Road, Bishopville, Maryland Terms: See Below
Real Estate  
General Information: Location: 11717 St. Martins Neck Road, Bishopville, MD. Traveling east on Rt. 90 towards Ocean City, Maryland, turn left at light onto St. Martins Neck Road. Property will be 3.5 miles on right (Signs Posted).

Inspection: Bidders are encouraged to walk and inspect the property anytime. An auction company representative will be on the premises Sunday, June 26 from 2:00 to 4:00 P.M., Wednesday, June 29 from 4:00 to 6:00 P.M., and Tuesday, July 5 from 4:00 to 6:00 P.M. Contact auction company for a Property Information Packet (PIP).

This wonderful property is identified by the Maryland Department of Assessments and Taxation as Map 10, Parcel 52 and is further described in Liber FWH 165, Folio 502. The property consists of approximately 5+/- acres of cleared land on the northerly side of St. Martins Neck Road. The property has approx. 415+/- ft. of frontage along St. Martin’s Neck Road and a depth of approx. 475+/- ft. The southwesterly area of the property is improved with a 72’ x 14’ mobile home (3 bedroom/1.5 bathroom) with well & septic, an above-ground swimming pool, and a small storage shed. The mobile home has central air and gas heat. The mobile home is currently being rented on a month-to-month basis. The northeasterly area of the property has an approved perc that is currently being recorded to the survey. The property has sub-division potential and is in an ideal setting and conveniently located 3.5 miles from Rt. 90 and only 5.8 miles from Coastal Highway in Ocean City.

Terms: $30,000 down payment in the form cash, Certified Check or Cashier's Check on the day of sale made payable to Jos. C. O’Neal & Sons. Balance to be paid within 45 days when a good and marketable deed will be given. Credit portion to bear interest at the rate of 0% per annum from the date of sale to date of settlement, and to be secured to the satisfaction of the undersigned, or to pay the full purchase price at the time of sale, at the option of the purchaser. If not settled within 45 days, interest shall be charged at the rate of 15% per annum from the date of sale to the date of settlement. In the event settlement does not occur within 65 days of the sale, the property shall be considered forfeited and resold at the expense and risk of the purchaser. Time is of the essence. State and County and municipal taxes and assessments to be adjusted as of the date of the sale. All transfer taxes shall be paid by the purchaser. All title papers, documentary stamps, recording costs and any and all other costs which shall be deemed necessary to transfer the title of the property and put the deed on record shall be at the expense of the purchaser. The purchaser assumes the payment of the Maryland Agricultural transfer tax, if any. In the event a good & marketable title cannot be delivered the seller(s) shall have 90 days to correct the flaw. If the flaw is not corrected the only recourse of the purchaser shall be the return of the down payment and the seller and the auctioneer shall be held harmless. If the dwelling on the property was built before 1976, it may contain lead paint. Purchaser may conduct a lead paint test at their expense prior to the sale. This property is being sold in "AS IS" condition. Neither the sellers nor the Auctioneer shall accept any responsibility for any Municipal, State or Federal Environmental Violations. To our knowledge none exist at this time. A 2% Buyer’s Premium will be charged on the final selling price. Seller reserves the right to accept or reject any or all bids, but it is their intent to sell said property.

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