Washington, DC / Auction proposal
15-unit condominium portfolio
Three packages of five. Or the entire portfolio.
You choose which option to accept.
More than a century of auction experience.A modern online platform for your sale.
Unique site visitors
annually
Properties sold
since 2012
States served
including Washington, DC
A note from Matthew
Thank you for the opportunity to present our proposal for the auction sale of your 15 condominium units at 919 12th Street NE. We recommend offering the units in three packages of five and as an entirety, with the owner choosing which sale option to accept.
Our approach combines targeted marketing, competitive online bidding and seller-focused sale terms. The goal is to attract both package buyers and purchasers of the full portfolio. We will guide you from reserve pricing, auction day and all the way through settlement.
01 Offering strategy
We will offer three five-unit packages and all 15 units as an entirety. Ownership chooses between the combined package bids and the entirety bid, subject to agreed reserves and sale terms.
Package 1
5units
Package 2
5units
Package 3
5units
As an entirety
15units
Three packages. Five units in each. The seller and auctioneer will create the packages together. Ownership chooses between the combined package bids and the entirety bid, subject to agreed reserves and sale terms.
Final package composition and bid-comparison and acceptance procedures will be agreed with ownership before marketing and documented in the listing agreement and published sale terms.
02 Opening bid & reserve
The opening bid tells buyers where the competition starts. The reserve is the minimum you are willing to accept. They serve two different purposes.
Your minimum. Your final say.
The reserve is the minimum amount you are willing to accept for your property. It is stated in the Auction Listing Agreement and remains confidential between the owner and auctioneer.
You have the final say over the reserve. If the auction does not meet it, you may choose to accept or reject the highest bid.
Where the competition begins.
The opening bid is the advertised number that tells the public where bidding will start. It is a starting point for the auction, separate from your confidential reserve.
On the MLS, the asking-price field shows the opening bid. The property description explains that the property is being sold at auction and that the listed amount is the opening bid.
Our general rule of thumb
We generally open bidding between one-third and one-half of the reserve price. Real-time competitive bidding then reveals the market value of the property.
“Start it low,
watch it go!”— Paul Cooper
The property owner and auctioneer analyze the property together to determine a reasonable reserve, with the seller ultimately choosing the amount. The Auction Listing Agreement records the reserve, the opening bid/list price and the buyer’s premium. Once the agreement is signed, the auction is scheduled and marketing begins.
You can accept or reject the highest bid. Alex Cooper routinely sells properties below, at and above the reserve price. We share bidding activity and guide you through the auction so you can evaluate the result as bidding concludes.
Once a bid is rejected, the bidder is no longer obligated to that last bid. A later offer may be lower, or the buyer may not proceed. The auction itself is the time to secure the best price and sale terms, so we will review the bidding with you before you make that decision.
03 Marketing your portfolio
Professional photography, property descriptions and due-diligence materials, with one or two guided tours subject to access.
Our omnichannel marketing campaign includes direct marketing to our audience of over 62,000 registered bidders on the Alex Cooper platform.
Advertising begins 3 weeks before auction through our bidding platform, curated email lists, Facebook and Instagram, and relevant sites such as Bright MLS, Zillow, Redfin, Realtor.com, LoopNet, CREXI and Brevitas.
No marketing expense to the seller.
04 The auction process
Click a stage to explore what happens next.
We guide you all the way through closing.
Illustrative website example
This on-page Monroe House example shows the property inside the Alex Cooper website layout for the Days 29–34 Auction bidding and closing. It is included only as an illustrative example and is separate from the 919 12th Street NE portfolio.
Day 1 · Set the foundation
Execute the agreement and establish the auction plan.
Illustrative auction schedule; final dates will be agreed before launch.
05 Seller-focused terms
Subject to final Auction Listing Agreement and the Auction Purchase Agreement
Added to the high bid to compensate Alex Cooper and any cooperating buyer’s agent, at no additional expense to the seller.
The winning bidder signs the purchase agreement and posts a 10% deposit of the contract price within one business day. Closing is due within 60 days of auction.
No financing, appraisal or inspection contingencies. The buyer pays all transfer taxes and settlement fees.
Taxes and condo fees adjusted as of the date of auction sale, increasing the sellers proceeds.
This is a proposal for review, not an acceptance of sale terms.