Are buyers allowed inspection on Fannie Mae foreclosure?
We're looking at an older house and the realtor just told us it is sold as is, so no inspection is necessary.
It's in an area of town (Amarillo, TX) that is selling quickly, and I don't know if that includes Fannie Mae or if that is something that will drag out forever. I am not working with a realtor, just called the listing agent. I don't know if we put in a bid and then if we are accepted, that's it, or if at that time we can hire an inspector.
I would hate to spend a lot of money on inspectors now and then make an offer only to find it's been under contract all this time.
How does this work?