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Auction Information
Auctioneer Jonathan Melnick Auctioneers and E.T. Newell 410-366-5555
Auction Date Apr 18 Auction
Location
4900 QUARLES ST NE
WASHINGTON, DC
Time 12:00PM
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AuctionZip Auctioneer ID# 6762

!!! THIS SALE HAS BEEN CANCELLED !!!

SUBSTITUTE TRUSTEE'S SALE

OF 

6 UNIT MULTI-FAMILY APARTMENT BUILDING  

Under and by virtue of the power of sale contained in that certain Deed of Trust from 4900-4902 Quarles Street, LLC to Claude O. Barrington and John Gamble, Trustees, dated December 30, 2010 recorded among Land Records of the District of Columbia (“Land Records”) as Instrument No. 2000046937 (the “DOT”), the holder of the indebtedness secured by said Deed of Trust having appointed Paul J. Cohen, Substitute Trustee for the purpose of foreclosure, default having occurred, demand having been made for payment of the obligations secured thereby, and notice having been filed in accordance with applicable law, at the request of the holder of the indebtedness secured by the DOT (the “Noteholder”), the Trustee, or either of them, will offer for sale at public auction, on the premises, on

WEDNESDAY, APRIL 18, 2018 AT 12:00 P.M. (NOON)

ALL THAT fee-simple LOT OF GROUND WITH THE IMPROVEMENTS THEREON being known as 4900 Quarles street, NE, Washington, DC 20019 and more fully described in the DOT as follows:

Lots Numbered 39 and 40 in a subdivision made by Allen W. Mallery and Lawrence O. Mallery, Trustee’s subdivision of lots in block numbered Eight (8) as per plat recorded in liber county 10 at folio 17 in the office of the surveyor for the District of Columbia.

DESCRIPTION OF PROPERTY:  The property is believed to be improved by a 3 story 6 unit apartment building.

TERMS OF SALE—A deposit of Twenty-Five Thousand Dollars ($25,000.00) will be required of the purchaser at time and place of sale, such deposit to be in cash, cashier’s check, or certified check, drawn on a banking institution acceptable to the Trustee, or such other form as the Trustee may determine in his sole discretion.  The deposit must be increased to equal ten percent (10%) of the purchase price by noon on, Tuesday, April 24, 2018 at the Auctioneer’s office.  The Noteholder, if a bidder, shall not be required to post a deposit or pay interest.  The Trustee will, as a condition to the sale, require all potential bidders, except the Noteholder, to show their deposit before any bidding begins. If the Noteholder bids, it shall be entitled to debt bid and, the Auctioneer shall be entitled to bid on the Noteholder’s behalf.  The balance of the purchase price, together with interest thereon at the rate of (6.00%) per annum from the date of the sale to the date that the funds are received by the Trustee, shall be due in cash or certified funds within thirty (30) days of the date of sale unless extended at the sole discretion of the Trustee.  TIME IS OF THE ESSENCE.  If payment of the balance does not take place within thirty (30) days of sale (or such extended date as may be approved in writing by the Trustee as provided above), in addition to any other legal or equitable remedies available, the Trustee may declare the deposit forfeited, retain the deposit, resell the Property at the risk and cost of the defaulting purchaser, and avail themselves and the Noteholder of any legal and equitable rights against the defaulting purchaser.  In the event of such default, the defaulting purchaser shall be liable for the payment of any deficiency in the purchase price, all costs and expenses of both sales, attorneys’ fees (including full commission on the gross sale price) and all other charges incurred by the Trustee or the Noteholder including, but not limited to, all incidental damages.  In the event settlement is delayed for any reason and the Property is purchased by someone other than the Noteholder, there shall be no abatement of interest caused by the delay.  All taxes, ground rent, water rent, homeowner association charges, condominium fees, and all other public and private charges and assessments, including, without limitation, paving, sanitary and/or metropolitan district charges that are owed against the Property shall be borne by the purchaser and paid for by the purchaser at settlement.  In addition, the cost of all documentary stamps, transfer taxes, document preparation, title insurance, title examination costs, survey costs, and all other settlement expenses incidental to conveyance of the Property, shall be borne by the purchaser and paid for by the purchaser at settlement.  To the extent not extinguished by operation of law by the sale, the Property is being sold subject to the following: the rights of any parties in possession, if such rights have priority over the DOT; encumbrances, easements, equitable servitudes, conditions, rights of way, restrictions, rights of redemption, covenants, declarations, restrictions and limitations of record affecting the Property, as well as, all recorded and unrecorded agreements referred to therein that pertain to the ownership, operation or use of the Property; all nuisances, housing code violations, building code violations, zoning code violations, critical area and wetland violations, and environmental problems, conditions and hazards, whether latent or observable, which may exist on or with respect to the Property; and, such state of facts that an accurate survey or physical inspection of the Property might disclose.  The Property will be sold “WHERE IS” in an “AS IS” condition and without any recourse, representations or warranties, either express or implied, as to its nature, condition, value, use or description.  The Trustee, the Noteholder or Auctioneer do not make any warranty or representation of any kind or nature, including, without limitation, the physical condition of, description of, or title to the Property, or as to the accuracy of the information furnished to the prospective bidders by the Trustee or any other party.  The successful purchaser recognizes that any investigation, examination or inspection of the Property is not within the control of the Trustee or the Noteholder.  Purchaser shall be responsible for obtaining physical possession of the Property following conveyance of the Property by the Trustee to the purchaser.  The purchaser shall assume the risk of loss for the Property immediately after the sale.  The Noteholder and Trustees assume no liability for fuel, gas, electricity, utilities, rents, or any other cost or expense whatsoever, under recorded or unrecorded documents and agreements and other operating charges accrued before or after the sale and all such charges shall be the sole responsibility of the purchaser from the date of the sale (whether payable before or after the date of sale). If the Trustees are unable to convey title to the Property, the purchaser’s sole remedy at law or in equity shall be limited to the refund of its deposit, without interest thereon.  Upon refund of the deposit, the sale shall be void and of no effect, and the purchaser shall have no further claims against the Trustee, Noteholder or Auctioneer.  The conveyance of the Property by the Trustees to the purchaser at settlement shall be by Trustees’ Deed without covenant, warranty or representations whatsoever expressed or implied.  NOTE:  The information contained herein was obtained from sources deemed to be reliable, but is offered for information purposes only.  The Trustee, Noteholder or Auctioneer do not make any representations or warranties whatsoever with respect to the accuracy of the information contained herein.  All square footage, acreage, and other measurements, if any, are approximate.  Prospective purchasers are urged to make their own inspection.  Until an offer is finally accepted by the Trustees, it is subject to higher and better offers.  The Trustee reserve the right in their sole discretion to reject any and all bids or withdraw the Property from sale at any time before the Auctioneer announces that the Property is “sold” and the deposit in the required amount and form is accepted by the Trustee.  The Trustee may adjourn and/or continue the sale at any time and close the sale.  The parties’ respective rights and obligations regarding the terms of the sale and conduct of the sale shall be governed and interpreted under the laws of the District of Columbia.  Further particulars may be announced at the time of sale.  For info call MARIE (410) 366-5555 or go to www.mdauctioneers.org and click on auctions.

 

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