1 REO & Bank Owned Properties FAQs
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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 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 completed, the title has been transferred and the residential or commercial property is ready to be marketed, it will be offered for sale through a regional realty 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 property representative is your best source for information about the residential or commercial property. The listing representative’s info is generally located on a “For Sale” check in the lawn or a quick internet search of the residential or commercial property’s address will result in websites with this information.

    Is a list of Chase foreclosures available?

    Due to privacy issues, we do not provide 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 directly to the general public?

    No, the local listing real estate representatives collaborate with possible buyers and present all offers to us.

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

    We note and sell residential or commercial properties at their fair market value.

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

    Yes, in some cases 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 representative for the residential or commercial property, not us. Your real estate representative should have the ability to deal with you and help you present an offer to the owner’s property agent.

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

    We use choose nationwide suppliers to manage our REO residential or commercial properties. These service providers utilize a number of regional representatives to market and sell the residential or commercial properties. Any showings and deals need to be carried through the local representatives.

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

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

    I already have a real estate representative. Can I present an offer to you through my realty representative?

    You can ask your real estate representative to compose your offer and present it to the local realty representative, who’ll then present it to us. The sale of the residential or commercial properties follows basic property treatments applicable to the state where the residential or commercial property lies.

    Can I check the residential or commercial property?

    If residential or commercial property being bought is uninhabited of residents and individual belongings you can schedule a residential or commercial property evaluation if you have actually a completely executed sales contract with us to buy the residential or commercial property. Any examinations will be at your expenditure and should be set up through the listing representative. All Chase REO residential or commercial properties are used and offered “as is,” “where is,” and with “all faults” basis without representation or warranty. Similar to any other real estate transaction it is the duty of the purchaser to arrange any inspections they consider required.

    Financing

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

    Yes, we might provide funding for certain residential or commercial properties. Please call the Home Lending Advisor at your local Chase Bank branch for further details about our funding choices.

    Tenant, Relocation Assistance, Other

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

    Chase doesn’t work with realty agents directly. We utilize a chosen nationwide supplier to manage our REO residential or commercial properties. This company uses regional agents 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 renter in a foreclosed residential or commercial property. Who should I contact? The local genuine estate representative appointed to the residential or commercial property will try to reach you after the foreclosure sale. You can likewise connect to the law company who dealt with the foreclosure to find out more. Relocation Assistance might be readily available on a case by case basis to help in moving expenditures. The regional genuine estate representative will attempt to make contact and will be able to provide additional information. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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