VICTOR H. LAWS, III
JEAN S. LAWS
LAWS, INSLEY & BENSON, P.A.
209 East Main Street
P.O. Box 75
Salisbury, MD 21803-0075
SUBSTITUTE TRUSTEES’ SALE OF VALUABLE REAL PROPERTY
20905 Bivalve-Wharf Road, Bivalve, Maryland
Under and by virtue of the power of sale contained in a Purchase Money Deed of Trust dated February 28, 2003, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2030, Folio 541, et seq., and a Deed of Trust dated April 20, 2007, and recorded among the Land Records of Wicomico County, Maryland, in Liber M.S.B. No. 2781, Folio 329, et seq., default having occurred therein, the Substitute Trustees will offer for sale, at public auction, at the front door of the Wicomico County Courthouse, 101 North Division Street, Salisbury, Maryland, the said real property hereinafter described on
Thursday, June 23, 2016, at 11:00 a.m.
PROPERTY DESCRIPTION: 20905 Bivalve-Wharf Road, Bivalve, Maryland 21814; deed reference Liber M.S.B. No. 2030, Folio 537; Property Tax ID #12-004753.
TERMS OF SALE: A deposit of Ten Thousand Dollars ($10,000.00) shall be required from the successful purchaser at the time of sale in the form of a cashier’s or certified check payable to the Substitute Trustees, or funds deemed acceptable by the Substitute Trustees. The balance of the purchase price shall be payable in the form of a cashier’s or certified check no later than twenty (20) days after ratification of the sale by the Circuit Court for Wicomico County, Maryland, unless said period is extended by the Substitute Trustees, for good cause shown, time being of the essence. The said unpaid portion of the purchase money shall bear interest at the rate of seven percent (7.00%) per annum from the date of sale to the date of settlement and shall be secured to the satisfaction of the undersigned Substitute Trustees.
In the event any successful bidder fails to consummate the purchase in accordance with the terms of sale as herein provided, the deposit, at the option of the Substitute Trustees, will be forfeited and applied to the costs and expenses of the sale, and the balance, if any, shall be retained by the Substitute Trustees as compensation for said sale. This forfeiture shall not limit any right of the Substitute Trustees, or the holder of the Deeds of Trust being herein foreclosed upon, to invoke or resort to any additional legal or equitable remedies resulting from the purchaser’s failure to consummate the purchase.
Adjustment of current year real property taxes and all other public charges or assessments, including water/sewer charges, ground rent and condo/homeowners association dues will be made as of the date of sale and thereafter assumed by the purchaser. All costs of title examination, documentary stamps, transfer taxes and title papers shall be paid by the purchaser. Risk of loss shall pass to the purchaser at the time of ratification of the sale. This sale may be subject to the Maryland Agricultural Transfer Tax, which shall be borne by the purchaser.
Neither the Substitute Trustees, the holder of the Deed of Trust or the Auctioneer shall be responsible for any federal, state or municipal environmental violations, if any. The land and improvements are being sold in an “as is” condition and without any warranty or representation as to their nature, condition or suitability for a particular or general purpose, either express or implied. The purchaser shall have the responsibility to acquire any necessary permits required with respect to any use intended for the property.
The property will be sold subject to all covenants, agreements, conditions, easements, rights-of-way, and restrictions as may appear among the Land Records of Wicomico County, Maryland, affecting the property.
The purchaser is required to register on-line within thirty (30) days from the date of the foreclosure sale with the Maryland Department of Labor, Licensing and Regulation for any residential property purchased. There is a fee of $50 for the timely initial registration and $100 for late registration.
If the holder of the Deed of Trusts is the successful purchaser, it is exempt from the Terms of Sale as set forth herein. The holder of the Deed of Trusts shall be permitted to bid at the sale.
INQUIRIES: All inquiries with respect to the above sale should be directed to Victor H. Laws, III, 410-749-7500, Substitute Trustee, or the Auctioneer.
VICTOR H. LAWS, III
Substitute Trustee