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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 used to describe a residential or commercial property that was obtained 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 been transferred and the residential or commercial property is prepared to be marketed, it will be readily available for sale through a regional property agent.

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

All Chase REO residential or commercial properties are listed with a local property representative. The local realty representative is your finest source for details about the residential or commercial property. The listing agent's info is normally located on a "For Sale" check in the yard or a fast internet search of the residential or commercial property's address will cause websites with this information.

Is a list of Chase foreclosures readily available?

Due to privacy concerns, we do not supply 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 regional listing real estate representatives coordinate with prospective purchasers and present all deals to us.

Does Chase sell residential or commercial properties at a discount?

We note and offer residential or commercial properties at their fair market value.

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

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

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

We utilize select national companies to manage our REO residential or commercial properties. These providers utilize a number of regional agents to market and sell the residential or commercial properties. Any provings and deals need to be transported through the local representatives.

We presently utilize the following suppliers: 24 Asset Management Corporation/ 24asset. com

Offers for Chase REO residential or commercial properties must be made through the listing property agent.

I already have a realty representative. Can I provide an offer to you through my realty representative?

You can ask your realty representative to compose your deal and present it to the local real estate representative, who'll then provide it to us. The sale of the residential or commercial properties follows basic property treatments applicable to the state where the residential or commercial property lies.

Can I check the residential or commercial property?

If residential or commercial property being bought is vacant of occupants and individual valuables you can arrange a residential or commercial property examination if you have actually a fully performed sales contract with us to buy the residential or commercial property. Any evaluations will be at your expense and must 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 guarantee. As with any other realty transaction it is the responsibility of the buyer to arrange any assessments they consider required.

Financing

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

Yes, we may provide financing for certain residential or commercial properties. Please get in touch with the Home Lending Advisor at your regional Chase Bank branch for more details about our funding alternatives.

Tenant, Relocation Assistance, Other

I am a realty agent. Can I note Chase REO residential or commercial properties?

Chase does not hire property agents straight. We make use of a chosen national provider to manage our REO residential or commercial properties. This supplier employs regional agents to market and sell 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 renter in a foreclosed residential or commercial property. Who should I get in touch with? The local real estate representative designated to the residential or commercial property will try to make contact with you after the foreclosure sale. You can likewise reach out to the law office who handled the foreclosure for additional information. Relocation Assistance may be offered on a case by case basis to assist in moving expenses. The local property representative will try to make contact and will have the ability to supply extra information. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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