back up from REO deal

If you buy REO,you are buying as is condition.How can I protect myself if I want to back up from deal without losing earnest money,if I do not want to buy the house for any reason?Any advice please.Thank you.

The lender won’t allow an inspection contingency? If you can’t put in any contingencies, you should go with a reutable contractor and spend A LOT of time inspecting the property. You’ll want to make sure there isn’t any deal breaking repairs needed.

Many properties I saw was winterized and power was off so I can not check if heating,air condition works and if there is any problem with plumbing.I think I have to take a risk that might be when I turn on power and water after I buy the house right?

I’m a newbie but I believe when you make an offer you enter it with contingencies. your contingencies would be a satisfactory inspection.

I’m currently looking at a 4 unit apartment building that looks to have some water damage. the listing agent said we could make an offer contingent upon a inspection. I asked her shouldn’t we get an inspection before making the offer because its not a question that theres something wrong but how bad it is. It seems dumb to make an offer knowing that the price will change as soon as the inspector tells us the damage and i figure the costs of rehabbing it. she replied that we should make an offer to lock in a price and then after inspection we could negotiate further. I still think its a waste of time to make an offer then re-write again.

any advice from some experienced investors on my situation ??