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REO & Bank Owned Properties FAQs
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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 explain a residential or commercial property that was gotten by a bank, loan provider or servicer as an outcome of a foreclosure or deed-in-lieu of foreclosure. Once the foreclosure or of foreclosure process is finished, the title has actually 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 call if I have questions about a residential or commercial property?
All Chase REO residential or commercial properties are noted with a local realty agent. The local 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" check in the backyard or a quick internet search of the residential or commercial property's address will cause websites with this information.
Is a list of Chase foreclosures readily available?
Due to personal 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 real estate agents collaborate with prospective buyers and present all offers to us.
Does Chase offer residential or commercial properties at a discount rate?
We list and sell residential or commercial properties at their fair market worth.
Can I make a deal on a residential or commercial property before the foreclosure is total?
Yes, sometimes 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 realty agent must have the ability to deal with you and assist you present a deal to the owner's property representative.
How can I buy a REO residential or commercial property from Chase?
We utilize choose national providers to handle our REO residential or commercial properties. These suppliers utilize numerous local agents to market and offer the residential or commercial properties. Any provings and deals require to be transported through the local agents.
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 provide an offer to you through my property agent?
You can ask your real estate agent to write your offer and present it to the regional genuine estate representative, who'll then provide it to us. The sale of the residential or commercial properties follows standard property treatments relevant to the state where the residential or commercial property lies.
Can I examine the residential or commercial property?
If residential or commercial property being purchased is uninhabited of occupants and individual valuables you can set up a residential or commercial property examination if you have a completely carried out sales agreement with us to acquire the residential or commercial property. Any evaluations will be at your cost and should be arranged through the listing agent. All Chase REO residential or commercial properties are offered and offered "as is," "where is," and with "all faults" basis without representation or warranty. Just like any other realty deal it is the responsibility of the buyer to schedule any examinations they deem essential.
Financing
Do you offer financing choices on the Chase REO residential or commercial properties?
Yes, we might offer funding for particular residential or commercial properties. Please call the Home Lending Advisor at your regional Chase Bank branch for more information about our funding alternatives.
Tenant, Relocation Assistance, Other
I am a real estate agent. Can I list Chase REO residential or commercial properties?
Chase does not hire genuine estate representatives directly. We utilize a chosen national service provider to handle our REO residential or commercial properties. This provider utilizes local representatives to market and offer the residential or commercial properties.
You can reach this service 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 contact? The local genuine estate agent designated 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 managed the foreclosure for more info. Relocation Assistance may be offered on a case by case basis to assist in moving costs. The regional property agent will attempt to make contact and will be able to supply extra details. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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