Premiere Asset Services (PAS): How Wells Fargo’s REO Division Works

What is Premiere Asset Services?

Premiere Asset Services, often shortened to PAS or “PAS REO,” is the part of Wells Fargo that handles bank-owned real estate. When Wells Fargo takes back a home through foreclosure or a deed-in-lieu, PAS manages the sale.

According to Wells Fargo’s REO purchase guide, Wells Fargo-owned and managed REO is sold through PAS. The homes are priced at local market value and marketed by local listing agents.

REO stands for real estate owned. A home becomes REO when a foreclosure sale ends without a third-party buyer, or when a borrower signs the home over through a deed-in-lieu. The lender then owns it and has to maintain, insure and pay taxes on it until it sells. For Wells Fargo, including homes tied to loans from Wachovia (acquired in 2008), that sale runs through PAS.

Older articles, including an earlier version of this page, listed a PAS phone line, email, fax number, mailing address and agent portal. We could not verify those details for 2026, so we have removed them. Use the Wells Fargo REO site and the customer service number below instead.

How buyers work with PAS today

Buyers rarely deal with Premiere Asset Services as a separate company. In practice, you deal with the Wells Fargo REO website and the listing agent on each home.

• Finding homes: search reo.wellsfargo.com and register for email alerts in your area.
• Asking questions: contact the listing agent shown on the property, or have your own agent do it.
• Making offers: offers go through the listing agent after the first 7 days on market, with a financing letter or proof of funds attached.
• Hearing back: Wells Fargo typically responds to offers within 2 business days.

For the full buyer walkthrough, including financing options, see our guide to Wells Fargo bank repos.

How agents work with PAS listings

If you are a buyer’s agent, the process is the same as any listed home with a few bank-specific rules:

1. Check the listing date. Offers are not considered in the first 7 days, so schedule showings and gather comps during that window.
2. Confirm your client’s financing proof. It must be a Wells Fargo prequalification or PriorityBuyer® preapproval, a NACA credit approval letter, or a credit-decisioned preapproval from another qualified lender. Cash buyers may need proof of funds.
3. Check eligibility. Wells Fargo employees, contingent workers and their household family members can’t buy Wells Fargo-owned or managed property.
4. Submit to the listing agent. Include the financing document with the offer.
5. Plan the inspection. Wells Fargo encourages an inspection after the offer is accepted.

Agents who want to list Wells Fargo REO homes should check reo.wellsfargo.com or call Wells Fargo for current requirements. Older PAS portal and email instructions may no longer apply.

How to buy a Premiere Asset Services REO home

1. Set up alerts on reo.wellsfargo.com.
2. Get an accepted financing letter or proof of funds.
3. Choose to work with the listing agent or your own agent.
4. Tour the home and research comparable sales during the first 7 days.
5. Submit your offer after day 7 at a price grounded in local market value.
6. Respond to any counteroffer; expect a reply in about 2 business days.
7. Inspect after acceptance, review the bank’s addendum, and close.

New to bank-owned purchases? This overview of how the REO purchase process works covers each stage from offer to closing.

PAS compared with other bank REO sellers

Other large banks handle REO differently:

• Chase uses an outside firm, 24 Asset Management Corporation, and does not publish a list.
• Bank of America lists its homes on its own Real Estate Center search.

You can also browse banks holding foreclosed homes in each state.