Foreclosure Auction- Residential Property in East New Market Cambridge, MD
Under a power of sale contained in a certain Deed of Trust from Patrice Thompson and Gloria J. Thompson dated March 21, 2014, and recorded among the Land Records for Dorchester County, Maryland in Liber 1200, folio 496, default having occurred under the terms thereof and at the request of the parties secured thereby (Civil Case No. C-09- CV-18-000137), the undersigned Successor Trustees will offer for sale at public auction at the Dorchester County Circuit Court House, 206 High Street, Cambridge, Maryland 21613 on: November 29, 2018 AT 11:30 A.M. All those lots, pieces or parcels of land situate, lying and being in East New Market, Dorchester County, Maryland and known as 5926 Mount Holly Road, East New Market, Maryland 21631 and as more particularly described, by metes and bounds in Exhibit A to that certain Deed of Trust from Patrice Thompson and Gloria J. Thompson dated March 21, 2014, and recorded among the Land Records for Dorchester County, Maryland in Liber 1200, folio 496 (the legal description set forth in the foregoing Exhibit A to the Deed of Trust is incorporated by reference herein and made a part hereof). The foregoing property consists of approximately 1.01 acres of land, more or less, and is improved by a rancher style DWELLING of approximately 1,987 square feet gross living area, more or less, that is believed to consist of 4 bedrooms and 2 bathrooms, more or less. The property will be sold in “as is” condition and subject to conditions, restrictions, easements, encumbrances and agreements of record affecting the subject property, if any, and with no warranty of any kind.
Terms & Conditions
Terms of Sale: A deposit in the form of cashier’s or certified check, or in such other form as the Successor Trustees may determine, at their sole discretion, for $10,000.00 at the time of sale. If the noteholder is the successful bidder, the deposit requirement is waived. The balance of the purchase price is to be paid within fifteen (15) days of the final ratification of the sale by the Circuit Court for Dorchester County, Maryland. TIME IS OF THE ESSENCE FOR THE PURCHASER. Interest is to be paid on the unpaid purchase price at the rate of four and six tenths (4.60%) as described in the Promissory Note, per annum, from the date of sale to the date the funds are received in the office of the Successor Trustees, if the property is purchased by an entity other than the noteholder. There will be no abatement of interest due from the purchaser in the event settlement is delayed for any reason. Adjustment of current year real property taxes and other public and/or private charges or assessments, including water/sewer charges, will be made as of the date of sale and thereafter assumed by the purchaser. All other public and/or private charges or assessments, including water/sewer charges, incurred after the sale, and all other costs incidental to settlement to be paid by the purchaser. Cost of any and all documentary stamps, transfer taxes, agricultural transfer taxes, and all settlement charges shall be borne by the purchaser. If the Successor Trustees are 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 to the purchaser. Upon refund of the deposit, the sale shall be void and of no effect, and the purchaser shall have no further claim against the Successor Trustees. If purchaser defaults under these terms, the deposit shall be forfeited. The Successor Trustees may then resell the property at the risk and cost of the defaulting purchaser. The defaulting purchaser shall not be entitled to any surplus proceeds resulting from said resale even if such surplus results from improvements to the property by said defaulting purchaser. Purchaser shall be responsible for obtaining physical possession of the property. The purchaser at the foreclosure sale shall assume the risk of loss or damage to the property from the date of sale. The information contained herein was obtained from sources deemed to be reliable but is offered for informational purposes only. The Successor Trustees, Auctioneer and the secured party do not make any representations or warranties with respect to the accuracy of this information.
Will be held at the Dorchester County Circuit Court House located at 206 High Street, Cambridge, MD 21613