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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, lending institution 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 actually been transferred and the residential or commercial property is all set to be marketed, it will be available for sale through a local genuine estate representative.

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

All Chase REO residential or commercial properties are listed with a regional real estate representative. The regional realty representative is your best source for information about the residential or commercial property. The listing representative's information is typically located on a "For Sale" indication in the lawn or a quick internet search of the residential or commercial property's address will result in websites 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 procedure.

Buying a Chase REO residential or commercial property

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

No, the local listing realty agents coordinate with prospective purchasers and present all offers to us.

Does Chase offer residential or commercial properties at a discount?

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 some cases 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 representative should have the ability to work with you and help you present an offer to the owner's property agent.

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

We utilize choose national providers to manage our or commercial properties. These service providers use several local agents to market and sell the residential or commercial properties. Any provings and offers need to be carried through the regional representatives.

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

Offers for Chase REO residential or commercial properties need to be made through the listing real estate representative.

I already have a property representative. Can I provide an offer to you through my property agent?

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

Can I examine the residential or commercial property?

If residential or commercial property being bought is vacant of residents and personal valuables you can set up a residential or commercial property inspection if you have actually a totally carried out sales agreement with us to acquire the residential or commercial property. Any evaluations will be at your expenditure 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 guarantee. As with any other property transaction it is the duty of the purchaser to arrange any inspections they consider needed.

Financing

Do you provide funding options on the Chase REO residential or commercial properties?

Yes, we might use funding for specific residential or commercial properties. Please contact the Home Lending Advisor at your local Chase Bank branch for further information about our funding choices.

Tenant, Relocation Assistance, Other

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

Chase does not work with genuine estate agents straight. We use a chosen nationwide service provider to manage our REO residential or commercial properties. This company employs regional representatives 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 renter in a foreclosed residential or commercial property. Who should I call? The regional property agent appointed to the residential or commercial property will attempt to reach you after the foreclosure sale. You can also reach out to the law practice who managed the foreclosure to find out more. Relocation Assistance may be available on a case by case basis to assist in moving expenses. The regional property agent will attempt to make contact and will have the ability to supply additional 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 procedure. See our existing mortgage rates, low down payment choices, and jumbo mortgage loans. Refinance Refinance your existing mortgage to decrease your month-to-month payments, settle your loan quicker, or gain access to cash for a big purchase. Use our home value estimator

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