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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 gotten by a bank, lender 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 finished, the title has actually been moved and the residential or commercial property is prepared to be marketed, it will be offered for sale through a regional property agent.
Who would I contact if I have questions about a residential or commercial property?
All Chase REO residential or commercial properties are listed with a regional realty agent. The local property agent is your best source for details about the residential or commercial property. The listing representative's information is generally found on a "For Sale" sign in the backyard or a quick internet 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 concerns, 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 public?
No, the local listing realty agents collaborate with prospective buyers and present all deals to us.
Does Chase offer residential or commercial properties at a discount?
We note and offer residential or commercial properties at their reasonable market worth.
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 present a pre-foreclosure offer to the owner's listing agent for the residential or commercial property, not us. Your genuine estate representative must have the ability to work with you and assist you provide an offer to the owner's property representative.
How can I buy a REO residential or commercial property from Chase?
We use select nationwide providers to handle our REO residential or commercial properties. These providers utilize several local representatives to market and sell the residential or commercial properties. Any showings and deals require to be funnelled through the local representatives.
We presently utilize the following companies:
24 Asset Management Corporation/ 24asset. com
Offers for Chase REO residential or commercial properties should be made through the listing realty agent.
I already have a realty agent. Can I present an offer to you through my realty agent?
You can ask your realty agent to compose your deal and present it to the local property representative, who'll then provide 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 lies.
Can I examine the residential or commercial property?
If residential or commercial property being bought is vacant of occupants and individual possessions you can arrange a residential or commercial property examination if you have a fully carried out sales contract with us to buy the residential or commercial property. Any examinations will be at your cost and ought to be scheduled 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 guarantee. As with any other genuine estate transaction it is the duty of the buyer to arrange any evaluations they deem necessary.
Financing
Do you use funding alternatives on the Chase REO residential or commercial properties?
Yes, we may use funding for particular residential or commercial properties. Please call the Home Lending Advisor at your regional Chase Bank branch for further details about our financing options.
Tenant, Relocation Assistance, Other
I am a realty agent. Can I list Chase REO residential or commercial properties?
Chase doesn't hire genuine estate agents directly. We make use of a chosen national company to handle our REO residential or commercial properties. This supplier uses regional 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 an occupant in a foreclosed residential or commercial property. Who should I contact? The local genuine estate agent designated to the residential or commercial property will attempt to make contact with you after the foreclosure sale. You can also connect to the law company who dealt with the foreclosure for additional information. Relocation Assistance might be readily available on a case by case basis to help in moving costs. The regional property agent will try 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 provide a range
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