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 utilized to explain a residential or commercial property that was gotten by a bank, lender 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 ready to be marketed, it will be available for sale through a local property representative.
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 realty agent. The local realty agent is your best source for details about the residential or commercial property. The listing agent's info is generally found on a "For Sale" sign in the lawn or a quick web search of the residential or commercial property's address will result in websites with this details.
Is a list of Chase foreclosures 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 public?
No, the local listing genuine estate representatives coordinate with 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 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 provide a pre-foreclosure deal to the owner's listing agent for the residential or commercial property, not us. Your real estate representative need to have the ability to work with you and help you present an offer to the owner's property agent.
How can I acquire a REO residential or commercial property from Chase?
We use choose national suppliers to handle our REO residential or commercial properties. These suppliers employ several local representatives to market and offer the residential or commercial properties. Any showings and offers require to be transported through the regional representatives.
We presently make use of the following providers:
24 Asset Management Corporation/ 24asset. com
Offers for Chase REO residential or commercial properties need to be made through the listing property agent.
I already have a property representative. Can I present an offer to you through my property agent?
You can ask your genuine estate 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 standard real estate procedures applicable 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 bought is uninhabited of occupants and individual possessions you can arrange a residential or commercial property examination if you have actually a fully carried out sales contract with us to acquire the residential or commercial property. Any examinations will be at your expenditure and ought to be set up through the listing representative. All Chase REO residential or commercial properties are used and sold "as is," "where is," and with "all faults" basis without representation or warranty. As with any other property deal it is the obligation of the purchaser to arrange any assessments they deem necessary.
Financing
Do you use financing alternatives on the Chase REO residential or commercial properties?
Yes, we may use financing for certain residential or commercial properties. Please contact the Home Lending Advisor at your local Chase Bank branch for further details about our funding choices.
Tenant, Relocation Assistance, Other
I am a property representative. Can I note Chase REO residential or commercial properties?
Chase does not work with genuine estate representatives straight. We utilize a selected nationwide service provider to handle our REO residential or commercial properties. This provider utilizes local agents to market and offer 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 call? The regional real estate agent assigned to the residential or commercial property will try to make contact with you after the foreclosure sale. You can also connect to the law practice who managed the foreclosure to find out more. Relocation Assistance may be readily available on a case by case basis to assist in moving expenses. The local real estate agent will try to make contact and will be able to provide additional information. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We use a variety
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buying a new home or re-financing your existing one.
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supplies easy-to-use mortgage calculators, academic posts and more. Our supreme guide for first-time homebuyers provides an overview of the procedure from start to end up. And from getting a loan to handling your mortgage, Chase MyHome has whatever you need. Buying a House Whether you're determining how much house you can manage, estimating your month-to-month payment with our mortgage calculator or searching for
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