Owner’s Sale: 700 Fayette St. – One of Three Valuable Apartment Buildings Offered in Cumberland, MD on April 4th

Summary Terms:

700 Fayette St is believed to be a 5,280 +/- sq. ft. 6-unit apartment building on 0.3 +/- acres.

708 Fayette St is believed to be a 2,178 +/- sq. ft. (above grade) 2-unit apartment building on 0.27 +/- acres. 

635 Washington St is believed to be a 4,248 +/- sq. ft. 6-unit apartment building on 0.65 +/- acres.

TERMS OF SALE:  700 Fayette St., 708 Fayette St. and 635 Washington St., as described above, may each be offered for sale separately.  In addition, the Properties may be offered for sale as an entirety.  An announcement will be made at the time of the auction as to how the individual Properties and the Properties as an entirety will be offered for sale.  Regardless of the order in which the Properties and the Properties as an entirety are offered for sale, any bids received will be reserved until all bids have been received and the Properties will be sold in such manner as results in the highest aggregate sale price. 

A deposit in the following amounts payable in cash, cashier’s check or certified check will be required of all bidders at the time and place of the auction: 

700 Fayette St. $20,000

708 Fayette St. $10,000

635 Washington St.   $25,000   

The successful bidder(s) shall pay to the Auctioneer such additional amount(s) needed, if any, to increase the deposit(s) to ten percent (10%) of the amount of the bid(s) within five calendar days after the auction.  Each purchaser shall pay interest on the unpaid balance of its purchase price at the rate of ten percent (10%) per annum from the date of the auction to and including the date of settlement.  Settlement is 45 days from the sale date.  The balance of the purchase price shall be due in cash or by certified check on the date of settlement.

The property will be sold in “As Is”, “Where Is” condition without express or implied warranty as to the nature and description of the improvements.  The property will be sold subject to easements, agreements, restrictions or covenants of record affecting the same, if any.  The purchaser shall be responsible for conducting their own due diligence regarding the Property.