I’m about to make an offer on a REO, and had a question for the experience REO investors on the board. Are you able to put an inspection clause on a contract for a REO? Does it usually depend on the bank or is the property just sold as is?
you sure can It is like anyother contract
I assumed you could, but wanted to make sure from someone with experience.
You can put contingency clauses in your offer for just about anything in your offer. It may affect how attractive your offer is though.
On the other hand, if they objected to you having one in your offer you may want to wonder why.
Many banks have addendums that will specify how long the inspection period is, but I haven’t seen any yet that didn’t allow for an inspection period (other than VA-if I remember correctly they want you to do your inspections before making an offer).
Thanks for the replies. From what I’ve read and experience it seems that the 2 that won’t allow inspections are HUD and VA. I have no experience with REO’s though and thank everyone here for their knowledge on those.