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Alex Krumm
"Distressed Property Specialist"
- 2 Helpful Answers
- 44 Answers
- 2 Blog posts
Locations:
Web sites:
Profile Link:
Experience:
Realtor for Re/Max Alliance Group
September 2006—present
I've spent several years in the foreclosure and short sale arena. Although many buyers…
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I've spent several years in the foreclosure and short sale arena. Although many buyers…
Specialties:
Foreclosures / REO, short sales, residential, country property, horse property, acreage
Certifications
& Awards:
& Awards:
Broker-Associate
Interests:
When Alex isn't selling Sarasota real estate, he's at home with his beautiful
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About:
About the Team
The Brewer Team is a Sarasota-based realty team that specializes in the purchase and sale of residential property. Consistently rated ... show more
The Brewer Team is a Sarasota-based realty team that specializes in the purchase and sale of residential property. Consistently rated ... show more
Alex Krumm answered:
There's a common misconception that when buyers enter into a contract with sellers that the bank is going to be under contract as well. This isn't the case - short sale contracts are not binding on the bank and is only contingent upon their approval.
Many banks don't even know that a property is offered for short sale or at what price. Because they're the ones that hold the lien, they get to decide how much they'll settle for (or if they'll settle at all.)
Check the market comps with your agent and find out how good a deal you're getting. It's possible that the higher counter is still an excellent deal for you, but you're not bound to take it - it still might be in your best interests to pay more.
Alex Krumm
Re/Max Alliance Group
Broker-Associate
GRI, Certified Distressed Property Expert
941-234-3597 Direct
941-954-5454 Office
alex.krumm@verizon.net http://www.sarasotapropertygroup.com
Many banks don't even know that a property is offered for short sale or at what price. Because they're the ones that hold the lien, they get to decide how much they'll settle for (or if they'll settle at all.)
Check the market comps with your agent and find out how good a deal you're getting. It's possible that the higher counter is still an excellent deal for you, but you're not bound to take it - it still might be in your best interests to pay more.
Alex Krumm
Re/Max Alliance Group
Broker-Associate
GRI, Certified Distressed Property Expert
941-234-3597 Direct
941-954-5454 Office
alex.krumm@verizon.net http://www.sarasotapropertygroup.com
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