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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 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 process is finished, the title has been transferred and the residential or commercial property is all set to be marketed, it will be offered for sale through a regional property 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 regional realty agent. The local genuine estate agent is your best source for details about the residential or commercial property. The listing agent's information is generally found on a "For Sale" sign in the yard or a quick internet search of the residential or commercial property's address will lead to websites with this details.

Is a list of Chase foreclosures readily available?

Due to personal 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 general public?

No, the local listing property agents collaborate with possible buyers and present all deals to us.

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

We note and offer 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, 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 offer to the owner's listing representative for the residential or commercial property, not us. Your real estate representative ought to have the ability to work with you and assist you present a deal to the owner's property agent.

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

We make use of choose nationwide service providers to handle our REO residential or commercial properties. These suppliers use several regional representatives to market and sell the residential or commercial properties. Any provings and offers need to be transported through the local agents.

We presently utilize the following suppliers: 24 Asset Management Corporation/ 24asset. com

Offers for Chase REO residential or commercial properties should be made through the listing realty agent.

I currently have a property representative. Can I present a deal to you through my property agent?

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

Can I inspect the residential or commercial property?

If residential or commercial property being acquired is uninhabited of residents and individual belongings you can arrange a residential or commercial property inspection if you have actually a completely executed sales contract with us to buy the residential or commercial property. Any evaluations will be at your expenditure and needs to be scheduled through the listing agent. All Chase REO residential or commercial properties are provided and sold "as is," "where is," and with "all faults" basis without representation or guarantee. As with any other property deal it is the duty of the buyer to set up any inspections they consider necessary.

Financing

Do you offer 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 local Chase Bank branch for more details about our financing alternatives.

Tenant, Relocation Assistance, Other
zillow.com
I am a property representative. Can I list Chase REO residential or commercial properties?

Chase does not employ real estate agents straight. We utilize a selected national company to handle our REO residential or commercial properties. This supplier uses local agents to market and sell 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 contact? The local property representative assigned to the residential or commercial property will try to make contact with you after the foreclosure sale. You can likewise connect to the law firm who managed the foreclosure for more information. Relocation Assistance may be offered on a case by case basis to help in moving costs. The regional realty representative will attempt to make contact and will have the ability to supply extra information. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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