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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 describe a residential or commercial property that was acquired 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 process is finished, the title has actually been moved and the residential or commercial property is ready to be marketed, it will be offered for sale through a regional real estate representative.
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 noted with a regional realty representative. The regional realty representative is your finest source for information about the residential or commercial property. The listing agent's details is usually located on a "For Sale" sign in the backyard or a quick internet search of the residential or commercial property's address will cause websites with this info.
Is a list of Chase foreclosures offered?
Due to personal privacy concerns, we do not supply lists of residential or commercial properties in the foreclosure process.
Buying a Chase REO residential or commercial property
Does Chase sell REO residential or commercial properties directly to the public?
No, the local listing property representatives coordinate with potential buyers and present all offers to us.
Does Chase sell residential or commercial properties at a discount rate?
We list and offer residential or commercial properties at their fair market value.
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 property agent ought to be able to work with you and help you provide a deal to the owner's property agent.
How can I acquire a REO residential or commercial property from Chase?
We use select nationwide suppliers to manage our REO residential or commercial properties. These providers use several local agents to market and sell the residential or commercial properties. Any provings and deals need to be directed through the local representatives.
We currently utilize the following suppliers:
24 Asset Management Corporation/ 24asset. com
Offers for Chase REO residential or commercial properties need to be made through the listing genuine estate agent.
I currently have a realty agent. Can I provide an offer to you through my property agent?
You can ask your genuine estate agent to compose your offer and present it to the regional realty agent, who'll then present it to us. The sale of the residential or commercial properties follows basic real estate procedures relevant 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 uninhabited of residents and personal belongings you can arrange a residential or commercial property evaluation if you have actually a totally performed sales contract with us to purchase the residential or commercial property. Any assessments 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 service warranty. Just like any other realty deal it is the duty of the buyer to schedule any assessments they consider essential.
Financing
Do you provide financing alternatives on the Chase REO residential or commercial properties?
Yes, we may provide funding for particular residential or commercial properties. Please get in touch with the Home Lending Advisor at your local Chase Bank branch for further details about our funding choices.
Tenant, Relocation Assistance, Other
I am a realty representative. Can I list Chase REO residential or commercial properties?
Chase does not hire property representatives straight. We make use of a selected national service provider to manage our REO residential or commercial properties. This supplier uses 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 contact? The regional property agent designated to the residential or commercial property will try to reach you after the foreclosure sale. You can also reach out to the law office who handled the foreclosure for additional information. Relocation Assistance may be offered on a case by case basis to assist in moving costs. The regional realty representative will attempt to make contact and will have the ability to provide extra details. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a variety
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offers easy-to-use mortgage calculators, educational articles and more. Our ultimate guide for novice property buyers gives an overview of the process from start to complete. And from looking for a loan to managing your mortgage, Chase MyHome has whatever you need. Buying a House Whether you're identifying how much home you can manage, estimating your monthly payment with our mortgage calculator or searching for
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a mortgage, we can help you at any part of the home buying process. See our existing mortgage rates, low deposit choices, and jumbo mortgage loans. Refinance Refinance your existing mortgage to decrease your month-to-month payments, settle your loan earlier, or access cash for a big purchase. Use our home value estimator
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