Public Auction of 63.56+/- Acre Farm West of Laurel, Delaware
Saturday, 24 Jan, 2009 10:00 AM Selling for Estate of Alberta Wilson
East Side of Cobb’s Creek Road (dirt lane), west of Laurel, Delaware along the Maryland/Delaware border. Terms: See Below
Real Estate Aerial Pictures of the Property
General Information: PUBLIC AUCTION


From the Estate of Alberta Wilson

Location: East Side of Cobb’s Creek Road (dirt lane), west of Laurel, Delaware along the Maryland/Delaware border. From Del. Rt. 24 (Sharptown Road) west of Laurel, turn onto Mt. Pleasant Road and travel for 1.5 miles. Turn left onto Old Sharptown Road and travel for 3.3 miles. Turn left onto Cobb’s Creek Road and travel for 0.2 mile. Turn left through gate and travel for 0.4 mile. Farm will be on left (Signs Posted).


10:00 A.M.

Inspection: Tuesday, January 13 from 3:00 to 4:30 P.M.

Sunday, January 18 from 2:00 to 3:30 P.M.

Tuesday, January 20 from 3:00 to 4:30 P.M.

The property is identified on the Sussex County Tax Map in District 4-32 on Map 5.00 as Parcel 19.00 and consists of 63.56+/- Acres of unimproved land (per Tax Map). The property is situated along Cobb’s Creek Road (dirt lane) which connects Del. Rt. 24 (Sharptown Road) to Old Sharptown Road west of Laurel. Cobb’s Creek Road runs with the boundary line between the State of Delaware and the State of Maryland. The property is narrow and irregular in shape and contains approx. 460 ft. of frontage along Cobb’s Creek Road along its westerly boundary. The easterly boundary of the property runs by and with Cobb’s Creek. The property consists of 45.6+/- Acres of tillable farmland with a remainder of 17.96+/- Acres of wooded land.

Note: The property will only be accessible for inspection during the inspection dates or by appointment because Cobb’s Creek Road is accessed through a locked gate.

Terms: $10,000.00 down payment in the form of Cash, Certified Check, or Cashier’s Check made payable to Jos. C. O’Neal, Inc. 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 10% 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, County, and Municipal taxes and assessments to be adjusted as of the date of the sale. Purchaser & Seller will equally share all State & County transfer taxes. 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. 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 improvements on the property were built before 1976, they 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 3% 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. Broker Participation invited. Brokers must have clients registered 24 hours prior to auction. Contact our office for complete details.

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