Inspection Clause When Making Offer on REO

[Ben Naughton]

First time offering on an REO. From what I've read and what Realtors have told me you should waive the inspection clause to make a good offer to the bank.

How unheard of is it to have an inspection clause?

Has anyone had experience having the bank accept their offer with the inspection clause in there?

[John Thedford]

WRONG unless you are capable of spotting defects. ALWAYS get an inspection. That is cheap insurance. Don't ask for unreasonable time limits. Ask for five days. You may need to have water and electric turned on but it is worth it. Have a competent inspector go over everything. Those little problems that may not be apparent can cause BIG headaches and BIG bills to repair.