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Georgetown Home Goes Under Contract Pre-Auction
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There won't be any auction bidding on Georgetown's Potomac Street on March 5.
Earlier this month, UrbanTurf reported that a two-bedroom Georgetown home would be hitting the auction block with a starting bid of $500,000 in early March.
However, we won't be able to see how that auction would've panned out, as the listing has gone under contract.
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The Potomac Street home went under contract on Saturday morning, listing agent Nick Luciani of Alex Cooper Auctioneers shared with UrbanTurf. The current owner indicated that pre-auction offers were welcomed, resulting in an all-cash offer under the same conditions disclosed in the preliminary purchase agreement.
Luciani noted that roughly 15-20% of the auction company's listings go under contract before the auction. The buyer submitted an offer to the auction house at a number the seller was comfortable with, and it is expected to settle quickly.
UrbanTurf will keep an eye out for the final sales price.
See other articles related to: alex cooper auction house, all-cash sales, auctions, georgetown, property auction
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/georgetowns-potomac-street-property-goes-under-contract-pre-auction/16500.
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