Question about contract for purchasing foreclosed home?
My fiance and I made an offer on a foreclosed home today, and we waived the home inspection to make our offer more desirable to the bank. Since the home is 'as is', we didn't want to include a lot of stipulations, such as turning on the utilities to conduct the inspection. Unfortunately, I could not get ahold of our bank to ask if an inspection is required under the terms of our mortgage loan. Let's say our offer is accepted by the bank that owns the home, but my bank demands a home inspection. Will we have to rewrite the contract to include a home inspection and then submit the offer again?