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REO & Bank Owned Properties FAQs
Elmer Ayers edited this page 4 days ago
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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 deed-in-lieu of foreclosure process is completed, the title has been transferred and the residential or commercial property is ready to be marketed, it will be readily available for sale through a regional realty representative.
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 property agent. The local realty representative is your finest source for details about the residential or commercial property. The listing agent's information is typically found on a "For Sale" check in the lawn or a quick web search of the residential or commercial property's address will result in sites with this info.
Is a list of Chase foreclosures available?
Due to personal privacy concerns, we do not supply 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 directly to the public?
No, the local listing genuine estate agents collaborate with possible purchasers and present all offers to us.
Does Chase sell residential or commercial properties at a discount?
We list and sell residential or commercial properties at their reasonable market worth.
Can I make a deal on a residential or commercial property before the foreclosure is total?
Yes, in many 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 representative for the residential or commercial property, not us. Your real estate agent should have the ability to work with you and help you present a deal to the owner's realty representative.
How can I purchase a REO residential or commercial property from Chase?
We utilize choose national service providers to manage our REO residential or commercial properties. These companies employ several regional agents to market and sell the residential or commercial properties. Any showings and deals require to be channeled 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 representative.
I already have a real estate agent. Can I provide an offer to you through my realty agent?
You can ask your realty agent to compose your deal and present it to the local property agent, who'll then provide it to us. The sale of the residential or commercial properties follows standard real estate procedures relevant to the state where the residential or commercial property is located.
Can I examine the residential or commercial property?
If residential or commercial property being is vacant of residents and individual belongings you can schedule a residential or commercial property assessment if you have actually a totally executed sales agreement with us to buy the residential or commercial property. Any examinations will be at your expense and ought to be scheduled through the listing agent. All Chase REO residential or commercial properties are offered and sold "as is," "where is," and with "all faults" basis without representation or service warranty. Similar to any other realty transaction it is the duty of the buyer to set up any inspections they deem necessary.
Financing
Do you offer financing alternatives on the Chase REO residential or commercial properties?
Yes, we might provide financing for specific residential or commercial properties. Please call the Home Lending Advisor at your regional Chase Bank branch for further information about our financing options.
Tenant, Relocation Assistance, Other
I am a property agent. Can I list Chase REO residential or commercial properties?
Chase doesn't work with genuine estate representatives straight. We make use of a picked national supplier 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 an occupant in a foreclosed residential or commercial property. Who should I get in touch with? The regional realty agent designated to the residential or commercial property will try to make contact with you after the foreclosure sale. You can also reach out to the law office who dealt with the foreclosure for additional information. Relocation Assistance may be available on a case by case basis to help in moving costs. The local realty representative will try to make contact and will be able to offer extra details. Follow us: -Facebook- Instagram- X, formerly Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We use a variety
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