Chase REO properties present a great opportunity for real estate investors and homeowners. The broad residential price declines combined with the credit crisis and severe recession are drastically affecting every homeowner and real estate investor throughout the country. The banks and mortgage lenders that have lent aggressively during the boom years are suffering from their customer payment defaults which eventually lead to foreclosure proceedings that culminate in a foreclosure auction. The properties that fail to sell or attract a bid that satisfies the bank’s reserve price are usually repossessed by the bank. These Chase bank owned repo or reo homes are usually handled by the REO department at Chase.
These Chase bank owned REO properties are treated as non-performing assets on the books of the bank. In addition, these reo properties also have expenses related to maintenance, property taxes etc. So banks are more inclined to sell them at the best price they can attract. This predicament helps investors looking for real estate bargains. By buying a home from Chase reo property listings a real estate investor can buying a residential single-family or multi-family property for upto 30% or less of the market value.
Chase REO Properties are mainly listed through realtors who signup as a vendor with their REO Department. The name of the agent handling the particular property along with other details are available through the Chase REO Asset Managers (24asset.com and reoexperts.net). The listings can be filtered by city, state and zipcode. But the application displaying the results is developed in Adobe Flash which makes it impossible to copy the listings into excel.