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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, lending institution or servicer as a result of a foreclosure or deed-in-lieu of foreclosure. Once the or deed-in-lieu of foreclosure process is finished, the title has been transferred and the residential or commercial property is prepared to be marketed, it will be available for sale through a regional real estate agent.

Who would I contact if I have questions about a residential or commercial property?

All Chase REO residential or commercial properties are noted with a local property representative. The regional realty agent is your best source for info about the residential or commercial property. The listing representative's information is normally located on a "For Sale" indication in the backyard or a quick web search of the residential or commercial property's address will lead to sites with this info.

Is a list of Chase foreclosures readily available?

Due to privacy concerns, we do not offer 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 representatives collaborate with potential 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 fair market price.

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 representative for the residential or commercial property, not us. Your property agent should be able to deal with you and help you provide an offer to the owner's genuine estate agent.

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

We make use of choose national providers to manage our REO residential or commercial properties. These service providers employ a number of regional agents to market and sell the residential or commercial properties. Any provings and deals require to be directed through the regional representatives.

We currently utilize the following providers: 24 Asset Management Corporation/ 24asset. com

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

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

You can ask your property representative to compose your deal and present it to the local genuine estate agent, who'll then provide it to us. The sale of the residential or commercial properties follows basic property procedures appropriate 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 occupants and individual belongings you can set up a residential or commercial property assessment if you have a totally performed sales agreement with us to acquire the residential or commercial property. Any evaluations will be at your expense and needs to be arranged 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 service warranty. As with any other property transaction it is the responsibility of the buyer to set up any inspections they deem required.

Financing

Do you use funding alternatives on the Chase REO residential or commercial properties?

Yes, we may offer funding for certain residential or commercial properties. Please call the Home Lending Advisor at your regional Chase Bank branch for further details about our funding options.

Tenant, Relocation Assistance, Other

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

Chase does not work with realty agents straight. We use a picked nationwide supplier to manage our REO residential or commercial properties. This service provider employs local agents to market and sell the residential or commercial properties.

You can reach this provider 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 agent appointed to the residential or commercial property will try to reach you after the foreclosure sale. You can also connect to the law practice who managed the foreclosure for additional information. Relocation Assistance might be offered on a case by case basis to assist in moving costs. The local genuine estate agent will try to make contact and will be able to supply additional information. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We offer a variety
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provides easy-to-use mortgage calculators, instructional short articles and more. Our supreme guide for novice property buyers offers an overview of the procedure from start to complete. And from obtaining a loan to handling your mortgage, Chase MyHome has whatever you need. Buying a House Whether you're identifying just how much house you can manage, estimating your regular monthly payment with our mortgage calculator or searching for
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