UPDATE: The Gallery just announced this morning (Friday, March 4) that they’re cancelling the auction and changing the format to a “Buy Now One Day Sales Event.”
If you’re still interested in purchasing one of these units and haven’t gotten in touch, just give our Downtown team a call at 206-659-1708.
Gallery, located at Second and Broad in Belltown, is the latest of Seattle’s condo developments to hold an auction. Twenty five residences will be auctioned off on Saturday, March 5 at 5 p.m., at the Grand Hyatt at 721 Pine Street, Seattle, 98101. Doors will open at 4 p.m.
Here are the details on Gallery:
- Located at 2911 2nd Ave
- 25 residences up for auction (24- Open 1b/1b, one- 1b/1b + Den)
- Minimum bids starting at $175,000 for a 571 square foot Open 1bed, 1 bath up to $295,000 for a 883 square foot 1 bed, 1 bath with den
Buy at Auction with Redfin’s Help
Interested in buying but unsure about the auction process? Need someone to help you from start to finish?
Bryon or Earnest Can:
- Set up a tour of Gallery
- Give advice prior to the bidding process and be there for the signing of the purchase and sale agreement (if you win)
- Guide you through the closing process
Bryon and Earnest will be at the auction, but please contact them ahead of time if you’re interested.
How to Get Started
Just give Redfin’s downtown team a call at 206-659-1708 or send us an email and tell us you’d like to tour Gallery. We’ll help you get it all set up. A Redfin agent must accompany you on the first tour to Gallery if you want us to represent you as the buyer’s agent at the auction.
You’ll also still be eligible for Redfin’s refund since Redfin will receive a 2% broker referral fee, of which we will refund up to 50% to you. Keep in mind that we do have a $6,000 minimum fee so if the final purchase price is below $300,000 you won’t receive a refund but will still receive great representation.
To be eligible for the Redfin refund, you do need to indicate you are represented by Redfin on your Auction Registration Form. If you want Redfin to represent you, the deadline for this registration is March 2nd.
To Participate in the Auction, Each Buyer Must:
- Prequalify with either MetLife Home Loans or Cobalt Mortgage
- Register in advance of auction, and make sure to have Redfin agent accompany you to your first tour of Gallery
- On auction day bring a cashiers check payable to yourself for $2,500. Also bring a blank personal check in case of a winning bid to pay the 3% minimum down payment (less a $2,500 earnest money check)
Other Auction Information
- Gallery auction site: auctionthegallery.com
- Results from previous Seattle area condo auctions:
o Olive 8 auction results
o Lumen auction results
o Queen Anne High auction results
o Brix and Gallery auction results