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 used to explain a residential or commercial property that was acquired 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 procedure is completed, the title has actually been transferred and the residential or commercial property is all set to be marketed, it will be readily available for sale through a local property representative.


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


All Chase REO residential or commercial properties are listed with a regional property representative. The regional property representative is your finest source for details about the residential or commercial property. The listing representative's information is normally located on a "For Sale" check in the yard or a quick web search of the residential or commercial property's address will lead to sites with this details.


Is a list of Chase foreclosures readily available?


Due to 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 sell REO residential or commercial properties directly to the general public?


No, the regional listing property representatives collaborate with potential buyers and present all offers to us.


Does Chase sell residential or commercial properties at a discount rate?


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


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


Yes, in many cases a residential or commercial property is listed for sale by its owner prior to a foreclosure sale. You can provide a pre-foreclosure deal to the owner's listing agent for the residential or commercial property, not us. Your property agent ought to be able to deal with you and assist you provide a deal to the owner's realty agent.


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


We utilize choose national providers to handle our REO residential or commercial properties. These service providers use a number of local representatives to market and sell the residential or commercial properties. Any showings and deals require to be funnelled through the local representatives.


We currently utilize the following service providers:
24 Asset Management Corporation/ 24asset. com


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


I already have a property representative. Can I provide an offer to you through my genuine estate agent?


You can ask your property agent to compose your deal and present it to the local real estate agent, who'll then provide it to us. The sale of the residential or commercial properties follows standard property procedures relevant to the state where the residential or commercial property is located.


Can I check the residential or commercial property?


If residential or commercial property being acquired is vacant of occupants and personal possessions you can set up a residential or commercial property examination if you have a completely executed sales agreement with us to acquire the residential or commercial property. Any examinations will be at your expense and ought 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 service warranty. Similar to any other realty deal it is the responsibility of the buyer to arrange any examinations they deem necessary.


Financing


Do you offer financing choices on the Chase REO residential or commercial properties?


Yes, we may use financing for specific residential or commercial properties. Please contact the Home Lending Advisor at your local Chase Bank branch for more details about our funding options.


Tenant, Relocation Assistance, Other


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


Chase does not work with genuine estate representatives straight. We utilize a selected nationwide supplier to manage our REO residential or commercial properties. This service provider utilizes 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: [email protected]!.?.! I am a renter in a foreclosed residential or commercial property. Who should I call? The regional property agent assigned to the residential or commercial property will attempt to make contact with you after the foreclosure sale. You can likewise connect to the law company who managed the foreclosure to learn more. Relocation Assistance may be readily available on a case by case basis to assist in moving costs. The regional property agent will attempt to make contact and will be able to offer additional details. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We use a range

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