DIRECTIONS
From Hebron take Quantico Road. Turn right on Rewastico Road. Farm on left and right just before Braggs Lane.
DESCRIPTION
Item 1 & Item 2 are to be offered separate and the bids reserved. Then Items 1 & 2 shall be offered together and sold in the manner that produces the highest aggregate amount.
ITEM NO 1: Located on the south side of Rewastico Rd, it is believed to contain 23.73+/-acres of land and is improved by a 3 / 4 bedroom home and storage building. The property is believed to consist of approximately 20.5+/- acres of tillable land based on the USDA Aerial photo and 3.2+/- acres of woodland and a homesite. The home is believed to contain approximately 2,120 sq ft built in about 1900. The first floor has a living room, large kitchen/family room, 1 bedroom and 1 bath. The second floor has 3 / 4 bedrooms including a room which can easily be connected to a bath. The home features vinyl siding and electric heat. The property is also improved by an equipment shed that is 24 x 40 x 10. This parcel is entitled to three building lots by right based on current zoning, subject to Health Dept approval.
ITEM NO 2: Located on the north side of Rewastico Road, this unimproved parcel has been recently surveyed and is believed to contain 23.12+/- acres of which 15.9+/- are tillable according to USDA Aerial photo and approximately 7.22+/- acres of woodland and Former Burrow Pit. This parcel is entitled to three building lots by right based on current zoning, subject to Health Dept approval.
Wicomico County Tax Map 27, Grid 3, Parcel 48
2% BUYER’S PREMIUM
REAL ESTATE TERMS
Item #1- $20,000 / Item #2 - $15,000 down on day of Sale in cash, Certified Check or Cashier’s Check or check acceptable by the undersigned, with a balance to be paid within 45 days. Time is of the essence. 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 before 65 days, the down payment shall be considered forfeited and the property will be resold at the expense and risk of the purchaser. The resale of the property does not limit the seller to further avail themselves of any additional legal or equitable remedies resulting from the failure to consummate the purchase. The seller has the right to extend settlement date at their own discretion. Time is of the essence. State and County and municipal taxes and assessments to be adjusted as of the date of the sale. 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 survey is necessary for the buyer to go to settlement, the cost of this survey shall be at the buyer’s expense and the buyer will be held responsible to go to settlement within the terms and conditions of the sale. The seller will convey good and marketable title or such title as can be insured by a title insurance company licensed in the State of Maryland. In the event the title insurance company charges a special premium, that cost shall be borne by the seller. In the event a good & marketable title or special insured 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. This property was built before 1976 and 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. The purchaser assumes the payment of the Maryland Agricultural transfer tax, if any. The Seller may reject any and all bids, however, it is the intent of the Seller to sell said property. The auctioneer reserves the right to deny a specific individual or group the right to bid. The auctioneer reserves the right to require an increase in down payment or change form of dawn payment for any specific bidder or bidders. The second highest bidder shall be “Held In” and responsible for his bid and willing to purchase the property until the highest bidder complies with the down payment, contract and note requirements to the satisfaction of the seller.