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Updated about 16 years ago on . Most recent reply

User Stats

57
Posts
5
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Brandon E
  • Real Estate Investor
  • Philadelphia, PA
5
Votes |
57
Posts

No Inspections allowed

Brandon E
  • Real Estate Investor
  • Philadelphia, PA
Posted

On this foreclosure listing, the bank has clearly stated that it won't allow "surveys, inspections, as-is" blah blah; My question is for the bank to accept, do I have to make an offer with no contingencies or due dilligence?
I plan to get my inspector to just do a quick walk-thru with me but it would be AFTER the contract is submitted; If this is done, would backing out result in anything more than losing EM? Thanks - Brandon

Most Popular Reply

User Stats

57
Posts
5
Votes
Brandon E
  • Real Estate Investor
  • Philadelphia, PA
5
Votes |
57
Posts
Brandon E
  • Real Estate Investor
  • Philadelphia, PA
Replied

Tom-
I understand what you are saying; It seems like REO's are here-today-gone-tomorrow before you know it.
My agent put in a verbal offer first, waiving the right to inspection, while I had my GC do the "inspection" on a walk-thru....
Probably a bit of a gamble to waive some of my rights, but really wanted to push this deal thru. - Brandon

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