Having CO necessary?

[Ash Seth]

I am looking for a REO house to live in. I inquired in county and looks like they don't have CO for 2nd floor at all that they have redone/rebuilt 2 yrs ago.

Township does not have Surey! permit is also expired and no CO. Bank wants to close fast and next 5-7 days they want me to sign the contract with 10% down of PP = 375K.

Since as a first time buyer not sure that whether I should be able to get the loan without CO. I discussed this with my lawer and according to her it can take upto 3 months to get CO and survey done. The bank - that owns the house is ready to give me the loan without CO but if I will be late for closing then they will charge me 100/day!...

House is in very good condition with only expenses are appliances, replacing the carpet in 2 bedrooms to hardwood floors and transfer taxes (no back taxes even)...

As said, as a first time home buyer not sure this is the right approach (to buy without CO and related consequncies) and looking for advise here from the investor community. Any help/suggestions appreciated.

Thanks,
Newbie...