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.
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.
This article originally published at https://dc.urbanturf.com/articles/blog/georgetowns-potomac-street-property-goes-under-contract-pre-auction/16500.
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