REO & Bank Owned Properties FAQs

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REO & bank owned residential or commercial properties FAQs

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Chase Real Estate Owned Properties

Definitions

What is a bank-owned or "REO" residential or commercial property?

Real Estate Owned or "REO," is a banking term utilized to describe a residential or commercial property that was acquired by a bank, loan provider or servicer as an outcome of a foreclosure or deed-in-lieu of foreclosure. Once the foreclosure or deed-in-lieu of foreclosure procedure is completed, the title has actually been moved and the residential or commercial property is ready to be marketed, it will be available for sale through a regional genuine estate agent.

Who would I contact if I have questions about a residential or commercial property?

All Chase REO residential or commercial properties are listed with a local genuine estate representative. The local property representative is your best source for info about the residential or commercial property. The listing agent's details is generally found on a "For Sale" indication in the lawn or a fast web search of the residential or commercial property's address will cause sites with this details.

Is a list of Chase foreclosures available?

Due to personal privacy concerns, we do not offer lists of residential or commercial properties in the foreclosure process.

Buying a Chase REO residential or commercial property

Does Chase offer REO residential or commercial properties straight to the public?

No, the local listing property representatives collaborate with prospective buyers and present all deals to us.

Does Chase sell residential or commercial properties at a discount?

We note and sell residential or commercial properties at their fair market price.

Can I make a deal on a residential or commercial property before the foreclosure is total?

Yes, sometimes a residential or commercial property is noted for sale by its owner prior to a foreclosure sale. You can present a pre-foreclosure deal to the owner's listing representative for the residential or commercial property, not us. Your genuine estate agent must have the ability to work with you and assist you provide a deal to the owner's genuine estate agent.

How can I purchase a REO residential or commercial property from Chase?

We utilize choose national suppliers to handle our REO residential or commercial properties. These providers employ numerous regional representatives to market and sell the residential or commercial properties. Any showings and deals need to be transported through the local agents.

We currently make use of the following service providers: 24 Asset Management Corporation/ 24asset. com

Offers for Chase REO residential or commercial properties must be made through the listing genuine estate representative.

I currently have a genuine estate agent. Can I provide a deal to you through my property agent?

You can ask your genuine estate agent to write your offer and present it to the regional real estate representative, who'll then present it to us. The sale of the residential or commercial properties follows standard real estate procedures appropriate to the state where the residential or commercial property is situated.

Can I inspect the residential or commercial property?

If residential or commercial property being purchased is vacant of occupants and personal possessions you can set up a residential or commercial property inspection if you have a totally carried out sales agreement with us to purchase the residential or commercial property. Any assessments will be at your expense and must be scheduled through the listing agent. All Chase REO residential or commercial properties are provided and sold "as is," "where is," and with "all faults" basis without representation or warranty. As with any other real estate transaction it is the duty of the purchaser to set up any evaluations they consider required.

Financing

Do you provide financing options on the Chase REO residential or commercial properties?

Yes, we may use financing for certain residential or commercial properties. Please contact the Home Lending Advisor at your regional Chase Bank branch for more information about our financing choices.
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Tenant, Relocation Assistance, Other

I am a property representative. Can I list Chase REO residential or commercial properties?

Chase does not hire realty agents straight. We make use of a picked national service provider to handle our REO residential or commercial properties. This supplier uses regional representatives to market and offer the residential or commercial properties.

You can reach this company through the following channel:

24 Asset Management Corporation
Email: vendormanagement@24asset.com!.?.! I am a renter in a foreclosed residential or commercial property. Who should I contact? The local property agent designated to the residential or commercial property will attempt to make contact with you after the foreclosure sale. You can likewise connect to the law firm who handled the foreclosure to find out more. Relocation Assistance might be offered on a case by case basis to help in moving expenses. The local property agent will attempt to make contact and will have the ability to provide extra details. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a range
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