Max Spann to Auction 30 Bayfront Condos in Ocean City, Maryland

OCEAN CITY, Md., July 15 /PRNewswire/ -- Max Spann Real Estate & Auction Co., the esteemed national auction house, has scheduled a Builder's Close-Out auction on Saturday, July 31 at 1 p.m. for 30 units in the Makai, a luxury condominium building located one block from the beach in Ocean City, Maryland.

Minimum bidding starts at just $75,000 on six studio units with previous asking prices of as much as $228,400 and $85,000 on 24 two-bedroom units with previous asking prices as high as $394,500.

The auction will be held at the Roland E. Powell Convention Center, 4001 Coastal Highway, (40th Street), Ocean City, MD 21842.

The newly constructed Makai features private balconies, bay and ocean views, granite countertops, ceramic tile in the entry hall, bathrooms, kitchen and living room and washers and dryers. The two-bedroom units have stainless steel appliances.

Amenities in the Makai include a four-season indoor tropical bay front pool, a fitness center with sauna, a billiards room, TV lounge, game room and activity room. The community is a 15-minute car ride to Assateague Island National Seashore.

"These are great vacation homes at a great price," said Max Spann Jr., president of the auction firm. "It's not often that you'll find properties like the Makai at these prices. If you ever dreamed of owning a piece of a coastal resort community, I strongly urge you to preview the properties."

Spann said preview dates are scheduled from noon to 2 p.m. on Saturday, July 17; and Sunday, July 18.

Spann said the Makai was conceived and approved for construction at a time when the real market was much stronger.

"The economic slowdown has created unique opportunity, as vacation condos are now being auctioned at prices that are affordable to a larger group of prospective buyers," Spann said. "With historically low interest rates and auction prices, now is the perfect time for buyers to capitalize on this open window of opportunity."

Ocean City features 10 miles of free beaches, outlet shopping, a world-famous boardwalk, live entertainment and dining choices from down-home cooking to haute cuisine.

To take the next step, call 888-299-1438 for the property information package. Preview the property at one of the open houses, attend the auction and bid. Online bidding will also be made available at www.maxspann.com.

SOURCE Max Spann Real Estate & Auction Co.