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 acquired by a bank, lender 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 completed, the title has been transferred and the residential or commercial property is prepared to be marketed, it will be readily available for sale through a regional property representative.
Who would I call if I have questions about a residential or commercial property?
All Chase REO residential or commercial properties are noted with a local property agent. The local real estate representative is your finest source for information about the residential or commercial property. The listing representative's info is generally found on a "For Sale" sign in the lawn or a quick internet search of the residential or commercial property's address will result in sites 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 public?
No, the local listing property representatives coordinate with possible purchasers and present all deals to us.
Does Chase sell residential or commercial properties at a discount rate?
We list and sell residential or commercial properties at their reasonable market value.
Can I make an offer on a residential or commercial property before the foreclosure is complete?
Yes, in some 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 representative for the residential or commercial property, not us. Your realty agent must be able to deal with you and assist you present a deal to the owner's property representative.
How can I purchase a REO residential or commercial property from Chase?
We utilize select nationwide suppliers to handle our REO residential or commercial properties. These suppliers employ numerous regional representatives to market and offer the residential or commercial properties. Any provings and deals require to be funnelled through the regional representatives.
We presently make use of the following providers: 24 Asset Management Corporation/ 24asset. com
Offers for Chase REO residential or commercial properties should be made through the listing realty representative.
I already have a property agent. Can I provide an offer to you through my property representative?
You can ask your genuine estate representative to compose your offer and present it to the regional property representative, who'll then provide it to us. The sale of the residential or commercial properties follows standard genuine estate treatments suitable to the state where the residential or commercial property is located.
Can I examine the residential or commercial property?
If residential or commercial property being purchased is vacant of occupants and personal possessions you can schedule a residential or commercial property evaluation if you have a completely contract with us to purchase the residential or commercial property. Any assessments will be at your expense and needs to be arranged 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 warranty. Just like any other property deal it is the obligation of the buyer to schedule any examinations they consider necessary.
Financing
Do you offer financing alternatives on the Chase REO residential or commercial properties?
Yes, we might provide financing for particular residential or commercial properties. Please contact the Home Lending Advisor at your regional Chase Bank branch for more details about our funding alternatives.
Tenant, Relocation Assistance, Other
I am a real estate agent. Can I list Chase REO residential or commercial properties?
Chase does not employ realty agents straight. We utilize a picked nationwide service provider to manage our REO residential or commercial properties. This supplier uses regional agents 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 call? The regional realty representative designated to the residential or commercial property will attempt to make contact with you after the foreclosure sale. You can likewise reach out to the law practice who dealt with the foreclosure for additional information. Relocation Assistance might be offered on a case by case basis to assist in moving expenses. The local real estate representative will try to make contact and will have the ability to supply extra details. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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