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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 explain a residential or commercial property that was acquired 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 actually been transferred and the residential or commercial property is all set to be marketed, it will be readily available for sale through a local genuine estate representative.

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

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

Is a list of Chase foreclosures offered?

Due to personal 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 sell REO residential or commercial properties straight to the general public?

No, the local listing realty agents coordinate with potential purchasers and present all deals to us.

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

We note and offer residential or commercial properties at their fair market worth.

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

Yes, in many cases a residential or commercial property is listed 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 representative need to be able to deal with you and assist you present an offer to the owner's realty representative.

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

We utilize choose national suppliers to manage our REO residential or commercial properties. These companies use numerous local representatives to market and sell the residential or commercial properties. Any showings and deals need to be directed 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 must be made through the listing genuine estate agent.

I currently have a real estate agent. Can I provide an offer to you through my realty agent?

You can ask your real estate agent to compose your deal and present it to the local real estate agent, who'll then present it to us. The sale of the residential or commercial properties follows basic realty treatments applicable to the state where the residential or commercial property is situated.

Can I check the residential or commercial property?

If residential or commercial property being acquired is vacant of residents and individual possessions you can set up a residential or commercial property evaluation if you have actually a completely performed sales contract with us to acquire the residential or commercial property. Any inspections will be at your expense and should be scheduled through the listing agent. All Chase REO residential or commercial properties are used and sold "as is," "where is," and with "all faults" basis without representation or warranty. Similar to any other realty transaction it is the duty of the buyer to schedule any evaluations they deem necessary.

Financing

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

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

Tenant, Relocation Assistance, Other

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

Chase does not employ genuine estate representatives straight. We use a picked national supplier to handle our REO residential or commercial properties. This company uses local representatives 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 contact? The local property agent appointed to the residential or commercial property will attempt to make contact with you after the foreclosure sale. You can also connect to the law office who managed the foreclosure for more details. Relocation Assistance may be offered on a case by case basis to assist in moving costs. The local real estate agent will attempt to make contact and will be able to supply additional details. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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