Sellers The Advantage of Online Real Estate Auctions
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250000+
Unique visitors annually viewing properties on our bidding platform.
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11800+
Properties sold since 2012.
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6
States (including Washington, DC) served for real estate auction needs.
For over 100 years Alex Cooper has helped families, businesses, and investors sell their properties to a network of tens of thousands of buyers. We serve the Maryland, Washington, DC, Pennsylvania, Delaware, Virginia, and Florida regions.
With a world-class digital bidding platform and a century of expertise, Alex Cooper makes selling real estate simple. If you have a property to sell, our team can help you succeed. While our auctions give the seller a reserve price (minimum) to protect their bottom line, through competitive bidding, the market will determine the property value.
Alex Cooper’s voluntary auction division specializes in selling residential, commercial, and multi-family properties. Auctions are now recognized as a smart, efficient alternative tool to sell all types of real estate.
I’m Ready to Sell
Foreclosure Auction Are You An Attorney, Trustee, or Lender Looking to Conduct A Foreclosure?
The Alex Cooper foreclosure division is separate from the voluntary auctions we conduct. If you are not in need of foreclosure services, keep scrolling for more resources on voluntary auction.
Alex Cooper has conducted well over 100,000 foreclosure auctions. Our team is experienced in residential, commercial, timeshare, and condo association foreclosures. Get in touch with our foreclosure team to learn more.
Sell at Auction Why You Should Sell Your Property at Auction
Using the Alex Cooper auction platform to sell a property is very advantageous for the property owner. The terms of sale favor the seller, and buyers compete to determine the value of your property. Traditional brokerage purchase agreements typically are written with contingencies that benefit the buyer, not the seller.
Sell at AuctionThe Auction Purchase and Sale Agreement
The auction terms and conditions in the Purchase and Sale Agreement (PSA) give the seller distinct advantages, such as:
- The Buyer pays Alex Cooper’s commission via a Buyer’s Premium.
- The Buyer pays 100% of transfer and recordation taxes.
- The property sells as is, where is.
- There are no contingencies on property inspection results, appraisals, or financing.
- Buyer pays an earnest money deposit in the amount of 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.
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 reserve price (minimum), 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.
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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 reserve price. From there, auction listing agreements will be generated and signed by all parties.
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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.
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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 reserve price.
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Step 4 After the Auction
After the auction, our transaction team will collaborate with you to provide excellent service through the settlement period. Residential closing typically takes 30-45 days, and commercial properties take 60 days.
Featured Case Studies
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18 Hambleton Ct., Baltimore, MD 21208
View DetailsHammer Price $1,100,000
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201-205 E. 30th St., Baltimore, MD 21218
View DetailsHammer Price $2,250,000
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802 Kensington Farm Ct., Harford County, MD 21050
View DetailsHammer Price $562,000
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4715 E. Wabash Ave., Baltimore, MD 21215
View DetailsHammer Price $315,000
Seller Steve R.I want to thank you for the work you and your team did to get our house sold. I appreciate your candor in all our interactions. There were no surprises and the auction process was just as you described during our first conversation. I feel confident we received a fair value for our house in the current market.
Buyer Sean A.Great experience. Auction site is easy to use and your questions get answered promptly. Once my bid won, they walked me through the process of the next steps. Even when I had a bit of buyer’s remorse, they were able to talk me through it and I am satisfied with my purchase.
Seller Nasz L.Worked with Carley Cooper. She helped in every aspect for an Auction home in Frederick. Super trustworthy team and definitely worth to work again. Thanks
Seller Danny G.I worked with Alex Cooper when I first bought my property a number of years ago, and again in the summer of 2019 when I sold the property 30 years later. They have always provided the most competent professionals to work with and I would highly recommend them for any real estate transaction.
FAQs Frequently Asked Questions
You’ve got questions, we’ve got answers. Explore the questions at right, or click More FAQs below to discover more answers. Can’t find what you are looking for? Get in touch today.
More FAQsWhat is a Buyer’s Premium?
A buyer’s premium is how Alex Cooper receives their commission. For example, if the high bid is 500K and the buyer’s premium is 6% the contract price is 530K, which includes the buyer’s premium. The buyer’s premium for each auction is advertised in the terms of sale section on the property page.
Where is the actual real estate auction held?
Alex Cooper conducts three types of real estate auctions:
Simulcast, which offers online participation via the online bidding platform & on-premises, live on property.
On-Premises Only, which has no online and buyers must be in person with cashier check and photo ID to participate.
Timed Online-Only, which is an online only auction that is conducted through the Alex Cooper online bidding platform, typically opened for 5 days prior to the auction date. Each property has a three minute soft close in a Timed Online-Only auction. If a bid is received in the final 3 minutes of the auction the clock will reset to three minutes to give all bidders a chance to bid again.
What types of properties are sold at auction?
Alex Cooper sells residential, commercial, industrial, and development sites via auction.
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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