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 gotten by a bank, lender or servicer as a result of a foreclosure or deed-in-lieu of foreclosure. Once the foreclosure or deed-in-lieu of foreclosure process is finished, the title has actually been transferred and the residential or commercial property is prepared to be marketed, it will be readily available for sale through a local property representative.
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 realty agent. The local genuine estate agent is your finest source for details about the residential or commercial property. The listing agent's info is typically located on a "For Sale" indication in the yard or a quick web search of the residential or commercial property's address will cause sites with this details.
Is a list of Chase foreclosures offered?
Due to privacy concerns, we do not provide lists of residential or commercial properties in the foreclosure process.
Buying a Chase REO residential or commercial property
Does Chase sell REO residential or commercial properties directly to the general public?
No, the regional listing genuine estate representatives coordinate with potential purchasers and present all deals to us.
Does Chase sell residential or commercial properties at a discount rate?
We list and sell residential or commercial properties at their reasonable market value.
Can I make a deal on a residential or commercial property before the foreclosure is total?
Yes, in some cases a residential or commercial property is noted for sale by its owner prior to a foreclosure sale. You can provide a pre-foreclosure offer to the owner's listing agent for the residential or commercial property, not us. Your realty representative need to be able to work with you and help you present a deal to the owner's realty representative.
How can I acquire a REO residential or commercial property from Chase?
We use choose national service providers to handle our REO residential or commercial properties. These service providers use several regional agents to market and offer the residential or commercial properties. Any showings and offers require to be channeled through the local representatives.
We presently use the following suppliers:
24 Asset Management Corporation/ 24asset. com
Offers for Chase REO residential or commercial properties must be made through the listing realty agent.
I currently have a realty representative. Can I provide a deal to you through my real estate agent?
You can ask your property agent to compose your offer and present it to the local property representative, who'll then provide it to us. The sale of the residential or commercial properties follows standard realty treatments applicable to the state where the residential or commercial property lies.
Can I inspect the residential or commercial property?
If residential or commercial property being bought is uninhabited of occupants and individual belongings you can schedule a residential or commercial property examination if you have actually a completely performed sales contract with us to purchase the residential or commercial property. Any inspections will be at your expense and needs to be arranged through the listing representative. All Chase REO residential or commercial properties are offered and sold "as is," "where is," and with "all faults" basis without representation or warranty. Just like any other realty transaction it is the duty of the purchaser to arrange any evaluations they consider required.
Financing
Do you provide funding choices on the Chase REO residential or commercial properties?
Yes, we may offer financing for particular residential or commercial properties. Please contact the Home Lending Advisor at your local Chase Bank branch for additional information about our funding options.
Tenant, Relocation Assistance, Other
I am a realty agent. Can I list Chase REO residential or commercial properties?
Chase does not hire property representatives directly. We utilize a chosen nationwide service provider to handle our REO residential or commercial properties. This supplier employs regional agents to market and offer the residential or commercial properties.
You can reach this service provider through the following channel:
24 Asset Management Corporation
- Email: vendormanagement@24asset.com!.?.! I am a tenant in a foreclosed residential or commercial property. Who should I call? The local real estate representative appointed to the residential or commercial property will try to reach you after the foreclosure sale. You can also reach out to the law office who handled the foreclosure to learn more. Relocation Assistance might be readily available on a case by case basis to assist in moving expenditures. The regional realty representative will attempt to make contact and will be able to provide additional information. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a range
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