If you’re looking for Bank One foreclosures, you need to know that Bank One merged with JPMorgan Chase & Co. in 2004. After the merger, the banks owned by Bank One Corporation took on the Chase name. So if you want to find Bank One foreclosures, you need to look for Chase foreclosures instead.
Chase lists their REO (real estate owned) properties through local real estate agents. Once they are listed, they should show up in the MLS listings for whatever area they are in. If you’re interested in buying foreclosure properties in a certain area, it’s best to start looking by searching the MLS listings through a website like Realtor.com that lets you see properties listed by agents all over the country, such as Appalachian bank foreclosures in Pennsylvania, Virginia, and Tennessee.
Chase REO Properties
You can search for REO properties on the Chase Properties section of the Chase website. Go to https://servicing.chase.com/reo/property/FeaturedProperties to get started. There is no link to this page from the Chase home page, so you might want to bookmark it for future reference. You can search for properties in a specific city and state or browse by location. The best way to find properties on this site is to browse by state first. You will then see a list of the cities where Chase has real estate for sale. You would think that clicking on the city would take you to the listings, but it doesn’t. Instead, it fills in the city and state information in the search box above. Unfortunately, when I tried to search from this page, it didn’t work. I had to go reload the search page and start over by entering the state and city. It’s not exactly the most user-friendly search interface, but you’ll get the hang of it.
Once you find a property you are interested in, you can click to see a map of where the home is located and get the contact information for the listing agent. There is usually a name, phone number, and e-mail address. You must go through a real estate agent to purchase a Chase foreclosure property. However, if you have your own agent, you can have your agent arrange for you to see the home and present your offer to the selling agent, just as you would if you were buying any other type of property.
You will need to have an inspection done on the property to make sure you are aware of any problems it has ahead of time. You can’t schedule an inspection until your offer has been accepted though, so make sure your offer is subject to the results of the inspection. When buying a foreclosure property, it is a good idea to assume that there is more wrong with the property than you realized, so be sure to add an extra 20% to your repair cost estimate just in case.
Financing Chase Foreclosures
Chase sometimes offers special financing for properties that are being sold as foreclosures. This depends on the property that you are purchasing. To find out whether the foreclosed property you are interested in has any special financing options, talk to the loan officer at your local Chase Bank branch office.
Bank One Foreclosures
So, now that you know that Bank One foreclosures are actually Chase foreclosures, you should have no trouble finding them. Regardless of which bank you are purchasing REO properties from, be sure to do your due diligence and get the foreclosure information you need to make sure that the property is worth what you are paying so that you’ll be able to walk away with a nice profit.
