4715 E. Wabash Ave., Baltimore, MD 21215
LARGE WAREHOUSE 20,000 +/- SF Industrial Warehouse Building in "Lucille Park"
Located in Baltimore City, Maryland this warehouse had been occupied by a single tenant for over 15 years. When the property went vacant the owner decided to sell the property as opposed to renovating and re-leasing. The owner had been in negotiations with the neighboring property owner but was unable to secure a satisfactory deal. Through our marketing efforts and the auction process, Alex Cooper created a bidding war that ultimately ended with the neighboring property owner paying significantly more than they had offered prior to the auction and purchased the property “as-is” with no contingencies on financing for inspection.
Sell at Auction Why You Should Sell Your Property at Auction
Using the Alex Cooper auction platform to sell a property can be very advantageous for the property owner. Traditional brokerage purchase agreements for real estate are written with preference given to the buyer, not the seller.Sell at Auction
The Auction Purchase and Sale Agreement
Our auction Purchase and Sale Agreement (PSA) gives the seller distinct advantages, such as:
- The Buyer pays the commission via a Buyer’s premium.
- The Buyer pays transfer taxes.
- The property sells as it is, where it is.
- Contingent-free contracts—there are no property inspection, appraisal, or financing contingencies.
- Buyer pays a non-refundable earnest money deposit as high as 10% of the purchase price.
- Sale terms for vacant properties require expenses, such as real estate taxes, to be adjusted to the sale date, rather than the settlement date.
Buy & Sell How Does the Auction Process Work?
The Alex Cooper bidding platform gives your property extensive exposure, ensuring a broad audience of potential buyers. This reach is further expanded by syndication across platforms like Zillow, Realtor.com, and Redfin for residential properties, and CREXI for commercial properties, maximizing visibility. Our auction process offers the seller a minimum reserve price, a practice where Alex Cooper Auctioneers has a notable record of meeting or exceeding expectations. This approach protects the seller’s bottom line while ensuring a transparent and fair process where market forces drive the property’s final selling price.
Step 1 Property Analysis, Reserve Price & Listing Agreement
After making sure you and your client are educated about the auction process, we collaborate to perform a property analysis and set a minimum reserve price. From there, auction listing agreements will be generated and signed by all parties.
Step 2 Marketing Your Property
Once agreements are finalized, the marketing process begins. Marketing the property occurs over the next ~21 days, with registration and bidding open in the last five before the auction ends.
Step 3 Auction Day
In the last 15 minutes of the final day of the auction, we will be together at our office or via video conference. Alex Cooper will provide insight into the registered number of bidders and the competition that is occurring. The seller has the right to accept or reject the bid if it is under the minimum reserve.
Contact Get Started
The team at Alex Cooper is here to see you through every step of the process of selling your property at auction.
Interested in learning more? Contact the Alex Cooper team today to learn more about the benefits of selling real estate auction.
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