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, 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 finished, the title has been transferred and the residential or commercial property is ready to be marketed, it will be readily available for sale through a regional genuine estate representative.


Who would I get in touch with if I have questions about a residential or commercial property?


All Chase REO residential or commercial properties are noted with a local real estate representative. The regional realty representative is your finest source for information about the residential or commercial property. The listing representative's details is typically found on a "For Sale" check in the lawn or a fast internet search of the residential or commercial property's address will lead to websites with this info.


Is a list of Chase foreclosures offered?


Due to privacy issues, we do not supply lists of residential or commercial properties in the foreclosure procedure.


Buying a Chase REO residential or commercial property


Does Chase offer REO residential or commercial properties straight to the public?


No, the regional listing property agents coordinate with possible purchasers and present all offers to us.


Does Chase offer residential or commercial properties at a discount?


We list and offer 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, sometimes 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 agent need to be able to deal with you and help you provide an offer to the owner's real estate representative.


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


We use choose national service providers to manage our REO residential or commercial properties. These suppliers use numerous regional representatives to market and offer the residential or commercial properties. Any showings and deals need to be directed through the local agents.


We presently make use of 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 agent.


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


You can ask your property representative to write your deal and present it to the regional property agent, who'll then present it to us. The sale of the residential or commercial properties follows standard realty procedures relevant to the state where the residential or commercial property lies.


Can I check the residential or commercial property?


If residential or commercial property being purchased is vacant of occupants and personal possessions you can set up a residential or commercial property examination if you have a totally executed sales contract with us to purchase the residential or commercial property. Any evaluations will be at your expense and needs to be arranged through the listing representative. All Chase REO residential or commercial properties are offered and offered "as is," "where is," and with "all faults" basis without representation or warranty. Similar to any other genuine estate transaction it is the duty of the buyer to schedule any assessments they consider required.


Financing


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


Yes, we may provide funding for particular residential or commercial properties. Please contact the Home Lending Advisor at your local Chase Bank branch for further details about our funding options.


Tenant, Relocation Assistance, Other


I am a property representative. Can I list Chase REO residential or commercial properties?


Chase does not employ property representatives directly. We make use of a picked nationwide provider to manage our REO residential or commercial properties. This supplier 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: vendormanagement@24asset.com!.?.! I am a renter in a foreclosed residential or commercial property. Who should I get in touch with? The regional real estate representative assigned to the residential or commercial property will try to make contact with you after the foreclosure sale. You can also reach out to the law firm who dealt with the foreclosure for more details. Relocation Assistance may be offered on a case by case basis to assist in moving expenses. The local property agent will try to make contact and will be able to provide extra details. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety

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