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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 used to describe a residential or commercial property that was obtained by a bank, loan provider 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 completed, the title has actually been moved and the residential or commercial property is ready to be marketed, it will be available for sale through a regional realty agent.

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

All Chase REO residential or commercial properties are noted with a regional genuine estate agent. The regional genuine estate representative is your finest source for information about the residential or commercial property. The listing agent's details is usually found on a "For Sale" indication in the lawn or a fast web search of the residential or commercial property's address will lead to websites with this details.

Is a list of Chase foreclosures offered?

Due to privacy concerns, we do not provide 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 regional listing genuine estate agents collaborate with prospective purchasers and present all offers to us.

Does Chase sell residential or commercial properties at a discount?

We list and offer residential or commercial properties at their reasonable market worth.

Can I make an offer 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 deal to the owner's listing agent for the residential or commercial property, not us. Your property representative must have the ability to deal with you and help you provide an offer to the owner's realty representative.

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

We make use of select nationwide companies to handle our REO residential or commercial properties. These suppliers use numerous local agents to market and sell the residential or commercial properties. Any provings and offers need to be funnelled through the regional representatives.

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

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

I currently have a realty agent. Can I provide a deal to you through my realty agent?

You can ask your property representative to write your deal and present it to the local property representative, who'll then provide it to us. The sale of the residential or commercial properties follows basic property treatments suitable to the state where the residential or commercial property lies.

Can I check the residential or commercial property?

If residential or commercial property being purchased is vacant of residents and personal valuables you can schedule a residential or commercial property examination if you have actually a completely performed sales contract with us to acquire the residential or commercial property. Any inspections will be at your cost and must 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 service warranty. Just like any other real estate deal it is the responsibility of the purchaser to schedule any assessments they consider necessary.

Financing

Do you offer funding choices on the Chase REO residential or commercial properties?

Yes, we might offer financing for particular residential or commercial properties. Please call the Home Lending Advisor at your regional Chase Bank branch for more details about our financing alternatives.

Tenant, Relocation Assistance, Other

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

Chase doesn't hire real estate agents straight. We make use of a chosen nationwide company to manage our REO residential or commercial properties. This service provider employs local representatives to market and offer 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 renter in a foreclosed residential or commercial property. Who should I get in touch with? The regional property representative appointed to the residential or commercial property will attempt to make contact with you after the foreclosure sale. You can likewise connect to the law firm who managed the foreclosure to learn more. Relocation Assistance may be available on a case by case basis to help in moving expenditures. The regional realty representative will try to make contact and will be able to provide extra information. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety

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a mortgage, we can assist you at any part of the home buying process. See our existing mortgage rates, low down payment options, and jumbo mortgage loans. Refinance Refinance your existing mortgage to decrease your monthly payments, pay off your loan sooner, or gain access to money for a large purchase. Use our home value estimator

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