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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 procedure 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 property agent.
Who would I get in touch with if I have questions about a residential or commercial property?
All Chase REO residential or commercial properties are listed with a local property representative. The local property representative is your finest source for info about the residential or commercial property. The listing agent's information is generally found on a "For Sale" check in the backyard or a quick web 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 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 regional listing property representatives coordinate with potential purchasers and present all offers to us.
Does Chase sell residential or commercial properties at a discount?
We note 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 many 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 property agent ought to be able to work with you and assist you provide an offer to the owner's realty agent.
How can I purchase a REO residential or commercial property from Chase?
We utilize select nationwide companies to manage our REO residential or commercial properties. These suppliers employ several local representatives to market and sell the residential or commercial properties. Any provings and deals need to be funnelled through the local agents.
We currently make use of the following suppliers:
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 property representative. Can I provide an offer to you through my realty representative?
You can ask your property representative to compose your deal and present it to the regional property 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 is situated.
Can I check the residential or commercial property?
If residential or commercial property being acquired is vacant of occupants and personal belongings you can arrange a residential or commercial property inspection if you have a fully performed sales contract with us to acquire the residential or commercial property. Any evaluations will be at your expense and ought to be set up through the listing agent. All Chase REO residential or commercial properties are used and offered "as is," "where is," and with "all faults" basis without representation or service warranty. Similar to any other property deal it is the responsibility of the buyer to schedule any examinations they deem necessary.
Financing
Do you offer funding options on the Chase REO residential or commercial properties?
Yes, we might offer funding for particular residential or commercial properties. Please get in touch with the Home Lending Advisor at your regional Chase Bank branch for additional details about our funding options.
Tenant, Relocation Assistance, Other
I am a property representative. Can I list Chase REO residential or commercial properties?
Chase does not employ property agents directly. We make use of a picked nationwide company to manage our REO residential or commercial properties. This company utilizes local representatives 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 get in touch with? The local real estate representative appointed to the residential or commercial property will try to reach you after the foreclosure sale. You can also reach out to the law company who handled the foreclosure to find out more. Relocation Assistance might be readily available on a case by case basis to help in moving expenses. The regional real estate representative will attempt to make contact and will be able to provide extra details. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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