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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 obtained by a bank, loan provider 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 actually been transferred and the residential or commercial property is all set to be marketed, it will be readily available for sale through a regional property agent.

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 local property representative. The regional realty representative is your best source for details about the residential or commercial property. The listing representative's information is usually located on a "For Sale" indication 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 readily available?

Due to privacy concerns, we do not supply lists of residential or commercial properties in the .

Buying a Chase REO residential or commercial property

Does Chase offer REO residential or commercial properties directly to the public?

No, the local listing realty agents collaborate with potential buyers and present all offers 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 worth.

Can I make an offer on a residential or commercial property before the foreclosure is complete?

Yes, sometimes a residential or commercial property is listed 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 real estate agent need to be able to work 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 service providers to manage our REO residential or commercial properties. These companies use several local representatives to market and sell the residential or commercial properties. Any showings and deals require to be funnelled through the local agents.

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

Offers for Chase REO residential or commercial properties should be made through the listing property representative.

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

You can ask your property representative to compose your offer and present it to the regional realty representative, who'll then present it to us. The sale of the residential or commercial properties follows standard genuine estate procedures relevant to the state where the residential or commercial property is situated.

Can I examine the residential or commercial property?

If residential or commercial property being bought is vacant of residents and personal belongings you can set up a residential or commercial property evaluation if you have actually a fully performed sales contract with us to buy the residential or commercial property. Any assessments will be at your expense and ought to be arranged 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 guarantee. Just like any other realty deal it is the responsibility of the purchaser to arrange any inspections they deem essential.

Financing

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

Yes, we might provide funding for certain residential or commercial properties. Please contact the Home Lending Advisor at your local 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 work with property agents directly. We use a selected nationwide supplier to handle our REO residential or commercial properties. This service provider utilizes regional representatives 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 renter in a foreclosed residential or commercial property. Who should I contact? The local real estate agent assigned to the residential or commercial property will attempt to reach you after the foreclosure sale. You can likewise reach out to the law office who dealt with the foreclosure for more details. Relocation Assistance may be offered on a case by case basis to assist in moving expenses. The local property agent will attempt to make contact and will be able to offer extra information. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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