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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 describe a residential or commercial property that was obtained by a bank, lending institution or servicer as a result of a foreclosure or deed-in-lieu of foreclosure. Once the foreclosure or deed-in-lieu of foreclosure process is completed, the title has actually been transferred and the residential or commercial property is prepared to be marketed, it will be offered for sale through a regional realty representative.

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

All Chase REO residential or commercial properties are listed with a local property representative. The regional genuine estate representative is your best source for info about the residential or commercial property. The listing agent's information is typically located on a "For Sale" sign in the lawn or a fast internet search of the residential or commercial property's address will cause sites with this information.

Is a list of Chase foreclosures offered?

Due to privacy issues, we do not offer 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 genuine estate representatives collaborate with possible purchasers 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 an offer on a residential or commercial property before the foreclosure is complete?

Yes, in many cases a residential or commercial property is noted for sale by its owner prior to a foreclosure sale. You can provide a pre-foreclosure deal to the owner's listing representative for the residential or commercial property, not us. Your genuine estate representative need to be able to work with you and help you present a deal to the owner's realty representative.

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

We make use of select nationwide companies to handle our REO residential or commercial properties. These suppliers employ numerous local agents to market and sell the residential or commercial properties. Any showings and deals need to be channeled through the regional representatives.

We presently use the following companies: 24 Asset Management Corporation/ 24asset. com

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

I already have a real estate agent. 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 local real estate representative, who'll then present it to us. The sale of the residential or commercial properties follows standard property treatments applicable to the state where the residential or commercial property is situated.

Can I examine the residential or commercial property?

If residential or commercial property being acquired is vacant of residents and personal belongings you can arrange a residential or commercial property assessment if you have a fully carried out sales contract with us to acquire the residential or commercial property. Any assessments will be at your expense and ought to 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 guarantee. As with any other real estate deal it is the obligation of the purchaser to arrange any examinations they deem necessary.

Financing

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

Yes, we might use financing for specific residential or commercial properties. Please get in touch with the Home Lending Advisor at your local Chase Bank branch for additional information about our funding alternatives.

Tenant, Relocation Assistance, Other

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

Chase does not hire realty agents straight. We utilize a chosen national supplier to handle our REO residential or commercial properties. This service provider employs local representatives to market and offer the residential or commercial properties.

You can reach this company 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 appointed to the residential or commercial property will attempt to reach you after the foreclosure sale. You can likewise reach out to the law office who dealt with the foreclosure for more details. Relocation Assistance might be available on a case by case basis to help in moving costs. The local genuine estate agent will attempt to make contact and will have the ability to supply additional information. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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