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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 procedure is finished, the title has been transferred and the residential or commercial property is prepared to be marketed, it will be offered for sale through a regional real estate representative.

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

All Chase REO residential or commercial properties are noted with a local real estate representative. The local realty agent is your best source for info about the residential or commercial property. The listing agent's information is typically located on a "For Sale" check in the lawn or a fast web search of the residential or commercial property's address will result in 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 directly to the general public?

No, the regional listing realty representatives coordinate with possible purchasers and present all deals to us.

Does Chase offer residential or commercial properties at a discount rate?

We list and sell residential or commercial properties at their fair market price.

Can I make an offer 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 deal to the owner's listing agent for the residential or commercial property, not us. Your property agent should be able to deal with you and assist you present a deal to the owner's real estate agent.

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

We use choose nationwide companies to manage our REO residential or commercial properties. These service providers utilize several local representatives to market and sell the residential or commercial properties. Any showings and offers need to be transported through the local agents.

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

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

I already have a genuine estate representative. Can I present a deal to you through my property representative?

You can ask your property representative to compose your offer and present it to the local realty agent, who'll then provide it to us. The sale of the residential or commercial properties follows basic realty treatments suitable to the state where the residential or commercial property is located.

Can I check the residential or commercial property?

If residential or commercial property being acquired is uninhabited of residents and individual valuables you can arrange a residential or commercial property inspection if you have actually a fully performed sales contract with us to acquire the residential or commercial property. Any examinations will be at your expenditure and should be arranged 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 warranty. Similar to any other property deal it is the obligation of the purchaser to schedule any evaluations they consider essential.

Financing

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

Yes, we might offer funding for certain residential or commercial properties. Please get in touch with the Home Lending Advisor at your local Chase Bank branch for more information about our financing options.

Tenant, Relocation Assistance, Other

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

Chase doesn't work with property representatives straight. We use a picked nationwide service provider to manage our REO residential or commercial properties. This supplier utilizes local agents to market and offer the residential or commercial properties.

You can reach this supplier 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 make contact with you after the foreclosure sale. You can likewise connect to the law practice who managed the for additional information. Relocation Assistance might be available on a case by case basis to assist in moving expenditures. The regional realty agent will attempt to make contact and will have the ability to offer additional details. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We use a variety
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a mortgage, we can assist you at any part of the home buying procedure. See our current mortgage rates, low down payment options, and jumbo mortgage loans. Refinance Refinance your existing mortgage to decrease your month-to-month payments, pay off your loan earlier, or gain access to money for a large purchase. Use our home worth estimator

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present worth of your home. See our current re-finance rates and compare re-finance options. Affordability Our inexpensive lending options, including FHA loans and VA loans, aid make homeownership possible. Check out our affordability calculator, and search for homebuyer grants

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