Deutsche Bank REO Properties

April 8th, 2010

Deutsche Bank is a global bank which provides the entire range of financial and banking services . It is headquartered in Frankfurt, Germany, with its operations spread out in 76 countries. Deutsche Bank has been an active player in the home lending market in America. When borrowers default on their mortgages, they are subject to mortgage foreclosure proceedings which culminate in a foreclosure auction. When the properties fail to sell at the price for the lender set reserve, the foreclosing bank or mortgage lender has an option to reposses such properties. These repossessed properties are commonly referred as REO or “Real Estate Owned by Banks.” All such repo homes owned by DB make up the inventory of Deutsche Bank REO properties.

Deutsche Bank REO Department

The process of REO property management from the moment of foreclosure to the final sale are either handled internally by the Bank’s own internal REO asset management department or outsourced to REO asset managers who specialize in handling such repossessed foreclosed homes. All inquiries regarding information related to residential REO homes and properties owned under the control of Deutsche Bank REO department can be addressed to:

Deutsche Bank 1761 East St Andrew Place Santa Ana, CA 92705

 Tel: (714) 247 6000

 Fax: (714) 247 6022

 The REO department at Deutsche Bank entertains enquires only through fax or by mail. It is extremely difficult for small or begining real estate investors or realtors to contact the DB REO department through their listed phone number here.

Deutsche Bank Owned REO Listings

Inorder to buy bank REOs, the first place investors need to look is through the bank’s own website that lists REO listings. All the major banks’ REO departments such as Chase REO, CitiMortgage REO, Bank of America REO have excellent sites listing their entire inventory of single-family and multi-family homes on their websites. The same is not the case with DB. The only way to enquire about Deutsche Bank Owned REO Listings is through their listed fax number. Some big investors interested in buying bulk REOs can establish contacts with Deutsche Bank REO asset managers to initiate the process of acquiring these Deutsche Bank Owned REO homes.

Deustche Bank REO Listing Agents (Realtors)

Even when banks have their own REO department, they usually enagage the services of outsourced vendors who are qualified and pre-screened. In other cases, they hire selling agents to handle not only the foreclosed property management, upkeep and also the selling process. These REO agents involve at the initial stages by providing their Broker Price Opinions. These reports help the REO bank determine the selling price. The competition to perform these services can be quite intense as the current real estate market is filled with REO foreclosed homes. To be an approved Deutsche Bank listing agent, it might be essential to aggressively pursue the REO managers at Deutsche Bank National Trust to have any success. Once approved, the Deutsche Bank REO Listings are listed for sale through these approved real estate selling agents. Listing Bank REO properties from DB can be a lucrative career for real estate professionals.

Buying Dutsche Bank REO Homes

The ability to spot good deals is primary to succeed in residential or commercial real estate investing. REO homes are treated as non-performing assets on the books of banks and lenders. The lenders have not only lost their interest income due to borrower default, they also have to spend extra for the foreclosure proceedings and management and reselling the repossessed REO property. Due to these these Deutsche bank owned reos are usually priced substantially below the market value. Investors by acting fast can acquire these underpriced REO homes in their area with a substantial built-in equity. By seeking the Deutsche Bank approved listing agents in a given area, investors can succeed in their residential real estate investment endeavours.

Chase Bank REO Properties

April 8th, 2010
REO stands for “Real Estate Owned” by banks and other home lending institutions. Chase Bank division of JP Morgan Chase repossess the properties that failed to sell at a foreclosure auction for any reason. Such repossessed bank foreclosure properties by Chase Bank are referred to as Chase Bank REO Properties. Chase Bank is one of the major lending institutions in USA. The consumer and commercial banking operations of JP Morgan Chase Bank are handled through the Chase bank division. Before its merger with J.P.Morgan & Co in 2000, it was known as Chase Manhattan Bank. The merger of Chase National Bank and the Bank of Manhattan led to the creation of the previous banking behemoth in 1955. The headquarters of the bank is located in Chicago,  Illinois.

Chase Bank REO Department

The internal REO department at Chase manages the entire process dealing with REO homes. Banks are primarily motivated to dispose off these REO homes and properties as soon as they are taken on their books as non-performing assets. REO Asset Management companies are usually employed to handle the entire process related to selling off these repossessed foreclosure homes. Sometimes, like in the case of Chase Bank, the REO inventory is substantial. Due to this, the Chase Bank REO department finds it economical and streamlined to take care of the entire REO Process related to buying Bank REOs.

Chase Bank REO Listings

Real Estate investors can profit nicely by locating properties with good equity potential from the Chase Bank REO listings. Once a property is taken on the books of the bank, they list it through qualified and pre-screened Real Estate REO listing agents. Big investors do directly contact the internal bank reo departments and negotiate with asset managers to buy properties in bulk. These bulk reo deals are usually not accessible to small-time residential real estate investors. Chase Bank has home mortgage lending operations through out the country. Because of this, the Chase Bank REO Listings contain properties in all 50 states in the country. The states with substantial REO inventory are the ones that have the highest number of foreclosure listings like California, Florida, Nevada and Arizona. Single-family homes such as town homes, condos along with multi-family reo properties such as duplex, triplex and fourplex homes also can be found through Chase REO listings.

Chase approved REO Listing Agents

Listing agents who specialize in handling bank owned REO homes in their locality are employed by Chase Bank REO department to handle the management and upkeep of the property along with process of MLS listings, BPO (Broker Price Opinions) and finally the contract negotiation with qualified real estate buyers. The competition is fierce among REO listing agents to become the exclusive source for a given area. Usually in a given zip code two to three reo agents become the preferred REO agent. By establishing good working with these Realtors, real estate investors can get a heads up about upcoming chase reo homes on the market.

Buying Chase Bank Owned REO Properties

First check the REO website of Chase that lists the bank REO property. The site provides the basic info related to property listing such as the sales price, property pictures, description and the REO listing agent info. Contact this agent to visit the property and if it meets the expectations, begin the negotiating process. Several investors over the past few years have benefited immensely by buying Chase bank owned REO properties.

Bank Reo List

April 6th, 2010

Bank of America REO (Link)

Beal Bank REO (Link)

Citi Bank REO (Link)

Compass Bank REO (Link)

Countrywide REO (Mearged with Bank of America) (Link)

Deutsche Bank REO

Fannei Mae REO (Link)

Freddie Mac REO (Link)

HSBC REO (Link)

HUD REO (Link)

IndyMac Bank REO (Link)

JP Morgan Chase Bank REO (Link)

M&T Bank REO (Link)

Ocwen Financial REO (Link)

People’s United Bank REO (Link)

SunTrust REO (Link)

Taylor Bean REO (Link)

Wachovia REO (Link)

Well Fargo REO (Link)