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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 gotten by a bank, loan provider 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 readily available for sale through a regional realty agent.
Who would I call if I have concerns 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 representative's details is usually located on a "For Sale" indication in the yard or a fast web search of the residential or commercial property's address will cause websites with this details.
Is a list of Chase foreclosures available?
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 general public?
No, the regional listing property agents collaborate with prospective buyers and present all offers to us.
Does Chase offer residential or commercial properties at a discount rate?
We note and offer 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 many cases a residential or commercial property is noted for sale by its owner prior to a foreclosure sale. You can present a pre-foreclosure offer to the owner's listing representative for the residential or commercial property, not us. Your realty agent must be able to deal with you and help you present an offer to the owner's realty agent.
How can I purchase a REO residential or commercial property from Chase?
We use choose nationwide companies to manage our REO residential or commercial properties. These providers utilize several local representatives to market and sell the residential or commercial properties. Any showings and deals need to be channeled through the regional representatives.
We presently utilize the following providers:
24 Asset Management Corporation/ 24asset. com
Offers for Chase REO residential or commercial properties must be made through the listing property agent.
I already have a realty representative. Can I provide a deal to you through my property representative?
You can ask your genuine estate agent to write your deal and present it to the local genuine estate representative, who'll then present it to us. The sale of the residential or commercial properties follows basic genuine estate treatments suitable to the state where the residential or commercial property is located.
Can I inspect the residential or commercial property?
If residential or commercial property being bought is vacant of residents and individual belongings you can arrange a residential or commercial property assessment if you have actually a completely carried out sales contract with us to buy the residential or commercial property. Any evaluations will be at your expenditure and ought to be arranged through the listing agent. 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 transaction it is the obligation of the purchaser to schedule any examinations they deem needed.
Financing
Do you use funding options on the Chase REO residential or commercial properties?
Yes, we may use financing for specific residential or commercial properties. Please contact the Home Lending Advisor at your regional Chase Bank branch for further information about our funding alternatives.
Tenant, Relocation Assistance, Other
I am a genuine estate agent. Can I list Chase REO residential or commercial properties?
Chase does not employ real estate agents straight. We use a selected national service provider to manage our REO residential or commercial properties. This supplier uses regional representatives to market and offer the residential or commercial properties.
You can reach this company through the following channel:
24 Asset Management Corporation
- Email: [email protected]!.?.! I am a tenant in a foreclosed residential or commercial property. Who should I call? The regional property agent assigned to the residential or commercial property will try to make contact with you after the foreclosure sale. You can likewise reach out to the law practice who managed the foreclosure for more info. Relocation Assistance may be readily available on a case by case basis to help in moving expenditures. The regional realty representative will attempt to make contact and will have the ability to supply extra information. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a range
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provides easy-to-use mortgage calculators, instructional short articles and more. Our supreme guide for novice homebuyers provides a summary of the process from start to complete. And from getting a loan to managing your mortgage, Chase MyHome has whatever you require. Buying a House Whether you're identifying how much home you can pay for, estimating your monthly payment with our mortgage calculator or searching for preapproval
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