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 describe a residential or commercial property that was gotten by a bank, lender 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 finished, the title has actually been moved and the residential or commercial property is all set to be marketed, it will be offered for sale through a local property agent.


Who would I contact if I have questions about a residential or commercial property?


All Chase REO residential or commercial properties are noted with a local genuine estate agent. The regional realty agent is your finest source for information about the residential or commercial property. The listing agent's info is normally located on a "For Sale" check in the yard or a quick web search of the residential or commercial property's address will lead to 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 procedure.


Buying a Chase REO residential or commercial property


Does Chase offer REO residential or commercial properties directly to the general public?


No, the local listing realty representatives collaborate with prospective buyers and present all deals to us.


Does Chase sell residential or commercial properties at a discount rate?


We list and sell residential or commercial properties at their reasonable market price.


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 offer to the owner's listing representative for the residential or commercial property, not us. Your property representative must be able to work with you and assist you provide an offer to the owner's realty agent.


How can I buy a REO residential or commercial property from Chase?


We make use of choose nationwide suppliers to handle our REO residential or commercial properties. These companies use numerous regional representatives to market and offer the residential or commercial properties. Any showings and deals need to be carried through the regional representatives.


We currently utilize the following companies:
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 genuine estate agent. Can I provide a deal to you through my real estate representative?


You can ask your realty representative to compose your offer and present it to the local property representative, who'll then present it to us. The sale of the residential or commercial properties follows basic realty treatments applicable to the state where the residential or commercial property is situated.


Can I inspect the residential or commercial property?


If residential or commercial property being purchased is uninhabited of residents and personal belongings you can schedule a residential or commercial property assessment if you have actually a fully executed sales contract with us to acquire the residential or commercial property. Any inspections will be at your expenditure and needs to be scheduled through the listing agent. All Chase REO residential or commercial properties are provided and offered "as is," "where is," and with "all faults" basis without representation or guarantee. As with any other property transaction it is the responsibility of the buyer to set up any inspections they consider essential.


Financing


Do you offer funding alternatives on the Chase REO residential or commercial properties?


Yes, we might provide funding for specific residential or commercial properties. Please call the Home Lending Advisor at your regional Chase Bank branch for more 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 realty agents directly. We utilize a picked nationwide service provider to manage 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 tenant in a foreclosed residential or commercial property. Who should I contact? The regional realty 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 company who handled the foreclosure for additional information. Relocation Assistance might be readily available on a case by case basis to assist in moving expenses. The regional real estate representative will attempt to make contact and will have the ability to supply additional details. Follow us: -Facebook- Instagram- X, previously Twitter -YouTube -LinkedIn -Pinterest Chase Home Lending We provide a range

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purchasing a brand-new home or re-financing your existing one.
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supplies user friendly mortgage calculators, instructional articles and more. Our supreme guide for novice homebuyers offers a summary of the procedure from start to complete. And from making an application for a loan to handling your mortgage, Chase MyHome has everything you need. Buying a Home Whether you're figuring out how much home you can pay for, estimating your month-to-month payment with our mortgage calculator or looking for

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a mortgage, we can assist you at any part of the home purchasing process. See our present mortgage rates, low down payment alternatives, and jumbo mortgage loans. Refinance Refinance your existing mortgage to reduce your monthly payments, settle your loan quicker, or gain access to money for a large purchase. Use our home value estimator


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current worth of your home. See our existing refinance rates and compare re-finance options. Affordability Our cost effective loaning alternatives, including FHA loans and VA loans, help make homeownership possible. Have a look at our price calculator, and try to find property buyer grants


in your location. Visit our mortgage education center for helpful suggestions and info. And from making an application for a loan to managing your mortgage, Chase MyHome has you covered. Home Lending Customer Support Go to Chase mortgage services to manage your account. Make a mortgage payment, get info on your escrow, send an insurance claim, request a benefit quote or indication in to your account


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