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REO & Bank Owned Properties FAQs
tommymehler805 edited this page 2025-06-16 20:09:27 +00:00
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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, loan provider or as a result of a foreclosure or deed-in-lieu of foreclosure. Once the foreclosure or deed-in-lieu of foreclosure procedure is finished, the title has actually been transferred and the residential or commercial property is all set to be marketed, it will be offered for sale through a regional property representative.
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 regional real estate representative. The regional property agent is your best source for info about the residential or commercial property. The listing representative's information is usually found on a "For Sale" indication in the backyard or a fast internet search of the residential or commercial property's address will result in websites with this info.
Is a list of Chase foreclosures offered?
Due to privacy concerns, we do not provide lists of residential or commercial properties in the foreclosure procedure.
Buying a Chase REO residential or commercial property
Does Chase sell REO residential or commercial properties straight to the public?
No, the local listing real estate agents collaborate with potential buyers and present all offers to us.
Does Chase offer residential or commercial properties at a discount?
We list and sell residential or commercial properties at their reasonable market price.
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 present a pre-foreclosure offer to the owner's listing agent for the residential or commercial property, not us. Your realty agent need to have the ability 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 select national providers to manage our REO residential or commercial properties. These companies utilize several local agents to market and offer the residential or commercial properties. Any provings and offers require to be transported through the local representatives.
We currently use the following providers: 24 Asset Management Corporation/ 24asset. com
Offers for Chase REO residential or commercial properties must be made through the listing real estate agent.
I already have a realty representative. Can I provide a deal to you through my property representative?
You can ask your property representative to compose your deal and present it to the regional genuine estate representative, who'll then provide it to us. The sale of the residential or commercial properties follows basic property procedures relevant to the state where the residential or commercial property is located.
Can I examine the residential or commercial property?
If residential or commercial property being bought is vacant of occupants and individual belongings you can set up a residential or commercial property examination if you have actually a totally performed sales agreement with us to acquire the residential or commercial property. Any examinations will be at your expense and ought to be scheduled through the listing representative. All Chase REO residential or commercial properties are provided and sold "as is," "where is," and with "all faults" basis without representation or service warranty. As with any other real estate transaction it is the duty of the buyer to set up any assessments they deem necessary.
Financing
Do you use funding options on the Chase REO residential or commercial properties?
Yes, we might use financing for particular residential or commercial properties. Please call the Home Lending Advisor at your regional Chase Bank branch for more details about our funding options.
Tenant, Relocation Assistance, Other
I am a property agent. Can I list Chase REO residential or commercial properties?
Chase doesn't hire real estate representatives directly. We use a chosen national provider to handle our REO residential or commercial properties. This supplier employs regional representatives 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 contact? The local real estate agent designated to the residential or commercial property will try to reach you after the foreclosure sale. You can likewise reach out to the law company who handled the foreclosure to learn more. Relocation Assistance might be readily available on a case by case basis to help in moving expenses. The local property representative will attempt to make contact and will be able to offer extra information. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We use a variety
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