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 utilized to describe a residential or commercial property that was gotten by a bank, lending institution 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 ready to be marketed, it will be readily available for sale through a local realty representative.
Who would I contact if I have concerns about a residential or commercial property?
All Chase REO residential or commercial properties are noted with a local real estate agent. The local real estate agent is your best source for info about the residential or commercial property. The listing representative's info is usually located on a "For Sale" sign in the yard or a quick internet search of the residential or commercial property's address will cause websites with this information.
Is a list of Chase foreclosures available?
Due to privacy issues, 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 general public?
No, the regional listing property representatives coordinate with potential buyers and present all offers to us.
Does Chase offer 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 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 realty agent need to be able to deal with you and help you provide 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 providers to handle our REO residential or commercial properties. These service providers utilize a number of local representatives to market and sell the residential or commercial properties. Any showings and offers require to be directed 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 realty representative.
I currently have a property agent. Can I present a deal to you through my realty representative?
You can ask your realty representative to write your deal and present it to the local realty representative, who'll then provide it to us. The sale of the residential or commercial properties follows basic realty procedures relevant to the state where the residential or commercial property lies.
Can I inspect the residential or commercial property?
If or commercial property being bought is vacant of residents and individual belongings you can arrange a residential or commercial property inspection if you have a totally performed sales contract with us to purchase the residential or commercial property. Any examinations will be at your expenditure and must be set up through the listing representative. All Chase REO residential or commercial properties are provided and offered "as is," "where is," and with "all faults" basis without representation or warranty. As with any other realty transaction it is the obligation of the buyer to set up any examinations they deem required.
Financing
Do you use financing alternatives on the Chase REO residential or commercial properties?
Yes, we might provide financing for certain residential or commercial properties. Please contact the Home Lending Advisor at your regional Chase Bank branch for more details about our funding choices.
Tenant, Relocation Assistance, Other
I am a realty agent. Can I list Chase REO residential or commercial properties?
Chase does not hire real estate agents straight. We use a picked nationwide supplier to manage our REO residential or commercial properties. This service provider employs regional representatives to market and offer 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 call? The regional property agent assigned to the residential or commercial property will attempt to reach you after the foreclosure sale. You can also reach out to the law office who dealt with the foreclosure to learn more. Relocation Assistance might be readily available on a case by case basis to help in moving costs. The local property representative will attempt to make contact and will have the ability to supply additional information. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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supplies user friendly mortgage calculators, academic articles and more. Our supreme guide for novice property buyers provides an overview of the process from start to end up. And from using for a loan to handling your mortgage, Chase MyHome has everything you require. Buying a House Whether you're determining just how much house you can manage, estimating your regular monthly payment with our mortgage calculator or searching for
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