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 obtained by a bank, lender or servicer as an outcome of a foreclosure or deed-in-lieu of foreclosure. Once the foreclosure or deed-in-lieu of foreclosure process is completed, the title has been moved and the residential or commercial property is all set to be marketed, it will be offered for sale through a regional real estate representative.

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

All Chase REO residential or commercial properties are noted with a regional genuine estate agent. The local real estate agent is your best source for information about the residential or commercial property. The listing agent's info is typically found on a "For Sale" check in the yard or a fast web search of the residential or commercial property's address will result in sites with this details.

Is a list of Chase foreclosures 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 sell REO residential or commercial properties straight to the general public?

No, the regional listing genuine estate representatives collaborate with possible purchasers and present all deals to us.

Does Chase sell residential or commercial properties at a discount?

We list and offer residential or commercial properties at their reasonable market price.

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

Yes, in some cases a residential or commercial property is listed for sale by its owner prior to a foreclosure sale. You can present a pre-foreclosure deal to the owner's listing agent for the residential or commercial property, not us. Your property representative must have the ability to work with you and help you present an offer to the owner's property agent.

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

We make use of select nationwide service providers to manage our REO residential or commercial properties. These service providers use a number of regional agents to market and sell the residential or commercial properties. Any provings and deals require to be funnelled through the local agents.

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

Offers for Chase REO residential or commercial properties need to be made through the listing realty representative.

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

You can ask your realty agent to compose your offer and present it to the regional genuine estate agent, who'll then provide it to us. The sale of the residential or commercial properties follows standard realty procedures suitable to the state where the residential or commercial property lies.

Can I examine the residential or commercial property?

If residential or commercial property being bought is vacant of occupants and personal belongings you can arrange a residential or commercial property examination if you have a completely performed sales agreement with us to acquire the residential or commercial property. Any inspections will be at your expenditure and must be arranged through the listing agent. All Chase REO residential or commercial properties are used and offered "as is," "where is," and with "all faults" basis without representation or service warranty. Similar to any other genuine estate deal it is the responsibility of the buyer to set up any evaluations they deem essential.

Financing

Do you use funding choices on the Chase REO residential or commercial properties?

Yes, we might provide financing for particular residential or commercial properties. Please the Home Lending Advisor at your regional Chase Bank branch for further details about our financing choices.

Tenant, Relocation Assistance, Other

I am a genuine estate representative. Can I note Chase REO residential or commercial properties?

Chase does not hire property representatives directly. We use a picked nationwide provider to handle our REO residential or commercial properties. This provider uses regional agents to market and sell the residential or commercial properties.

You can reach this 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 get in touch with? The local realty representative appointed to the residential or commercial property will attempt to make contact with you after the foreclosure sale. You can also reach out to the law company who dealt with the foreclosure for additional information. Relocation Assistance may be offered on a case by case basis to help in moving costs. The local genuine estate representative will attempt to make contact and will have the ability to provide additional information. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We use a range
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