PREVIEW PARTY
Friday, February 26 4-7PM
Please Check-in at Unit 108
Join us for Live Entertainment at our Evening Preview of all 11 Units.
Enjoy Sunsets on the Bay at Bahia Vista I & II, and get all your final questions answered about auction day.
- NO MINIMUM PRICE on ALL Direct Bayfront Condos - Bahia Vista I
- NO MINIMUM PRICE on 2 Bayview Condos - Bahia Vista II
- Previously sold in the $900,000's!
- No Buyer Premium
- Guaranteed Financing*
- 3 & 4 Bedroom Units
- Community Pool & Fitness Center
Luxury Abounds...
- Expansive Waterviews
- Large Private Balconies to enjoy incredible sunsets on
the bay
- Gourmet Kitchen: Stainless Steel appliance packages,
designer cabinets, granite & Corian counters, tile floors
- Outdoor storage lockers for each unit
- Stylish details at every turn: Crown molding, tray
ceilings, recessed lighting, gorgeous fixtures, beautiful color palette
throughout
- Large master bedrooms with luxury bath
- Gas fireplace with handsome entertainment shelf
- Utility room with full-sized washer and dryer
- Pool & fitness center
*Call for terms & details. Broker Participation. Call for Requirements.
NO BUYER PREMIUM!
.......... NO BUYER PREMIUM! ..........
NO BUYER PREMIUM!
click chart for larger version
GENERAL TERMS AND CONDITIONS:
REGISTRATION: By fax, email, at previews, and 1 hour prior to auction. Photo ID and deposit check required when checking in at the Auction.
DATE AND LOCATION OF AUCTION: February 27, 2010 @ 1PM Off-site. Auction will be held at the Grand Hotel, 2100 Baltimore Ave, Ocean City, MD. Special Hotel Packages Available to Registered Bidders!
TERMS: A $10,000.00 deposit, per condominium unit, is required auction day in the form of cashier's check made payable to yourself, to be endorsed to Marshall Auctions upon execution of contract. Pre-registration required for bidding. Deposit will be held in escrow as earnest money for auction contract.
* Current condo fees range between $2,912 - $3,145 per year depending on unit #. Condo Fees for a boat slip are $500 per year. Condo Fees noted here are the annual amounts, to be divided and billed quarterly. There is a one-time Capital Contribution of $500 per condo unit and $200 per boat slip due at settlement.
* All five units in Bahia Vista I and two units in Bahia Vista II will be sold Absolute with No Reserve Price. The remaining units will be sold with the seller reserving the right to accept or reject the high bid price.
* Boat slips are separately deeded and will be offered to winning bidders on a first come first serve basis at the prices listed and if chosen will be added to the contract purchase price.
* Units 108 and 503 in Bahia Vista I and Unit 201 in Bahia Vista II will be sold with the furniture package, with the Price listed for that Package (#108-$20,000; #503-$12,500; #201-$16,500) being ADDED ON TOP OF THE BID PRICE, NOT OPTIONAL. Remaining units, if furnished, will be sold with the furniture package as OPTIONAL.
* For any successful buyer who pays for a furniture package as part of their Contract Purchase Price AND who chooses to have the sellers attorney, William Esham with Ayres, Jenkins, Gordy & Almand, P.A. handle their settlement, the seller will pay for the attorney's fees of $500 for title services & document prep charges.
* On Unit #202 in Bahia Vista II, Buyer will be given the choice to honor the current lease through 1/31/2011 for $1500/month or reject it and tenant will vacate. Any seasonal rentals already reserved for 2010 for any unit, do not have to be honored, but may be offered to the Buyers following the auction.
* All announcements made at the auction shall take precedence over any other information or printed matter. Auctioneer reserves the right to change or amend the terms and/or order of the auction.
BUYERS PREMIUM: 0%, there will be NO BUYERS PREMIUM, added to the bid price.
AUCTION CONTRACT: All winning bidders will be required to sign a Memorandum of Auction ("Auction Contract") immediately following the auction. In Maryland, the Auction Contract is not subject to attorney review period. Buyers agree to review the Auction Contract prior to bidding.
CLOSING: Settlement to occur on or before April 13, 2010, 45 days following the Auction Date. The balance of the Contract Purchase Price less the deposit held in Escrow due at settlement. Buyer is responsible for all settlement costs, recordation, and transfer taxes.
BROKER PARTICIPATION: Brokers wishing to represent a client must have their client(s) registered no later than 48 hours prior to the auction. Call for details.
DISCLAIMER: All information provided was obtained from sources believed to be reliable and accurate. Auction Company, Seller and any representatives thereof make no representation or warranties of any kind. Properties are sold As-Is. Terms subject to change. Seller is a licensed broker. Units subject to sale prior to auction. Buyer shall perform independent due diligence and verify all information to their own satisfaction prior to bidding.
FINANCING: Streamlined financing through Wells Fargo is available to qualified purchasers and Wells Fargo will issue a lender credit for the appraisal if you obtain financing through them. A financing contingency is available under certain terms. See contract for details. Guaranteed Owner Financing is available to qualified buyers. Call for details.
ONLINE BIDDING:
DEADLINE: Deadline to register to bid online is 6:00 PM, Thursday February 25, 2010.
How to:
- Please fill out the online registration form.
- Read the Terms and Conditions and check the box to agree. When you bid on a property you agree to abide by the terms and conditions of the auction as stated herein. Your bid constitutes a legal and binding contract and is subject to the laws of the state of Maryland. If you do not intend to fulfill the purchase of the property, PLEASE DO NOT BID!
- Deliver the $10,000 per unit deposit by the deadline above, to the Auction Company in the form of either a bank certified check, or bank wire. Please call 410-749-8092 or 443-859-3090 for wire transfer information.
- You will receive an email instructing you to download the bidding software, and a username and password to log in and bid.
- Immediately following the auction, you will be obligated to sign a contract of sale for any property on which you are the high bidder. Please be available by fax or scan/email to complete the contracts of sale.
- Online bidding will be provided as a convenience to the Bidders. Auction Company is not responsible for any technology breakdowns or interruptions in service, on either the auction company’s part or upon the bidder’s part. In the event an online bidder is unable to relay their bid via the online system, they may call Auction Company at 443-859-3090 to attempt a phone bid. Phone bids will be attempted but not guaranteed. Auction Company will not be liable for bids not received from a bidder who is not physically present at the auction.
Questions:
charlene@marshallauctions.com
or
info@marshallauctions.com
Contact Auction Company for Additional Details.
410-749-8092