Question on REO property

[Amir Saeed]

We have just won a REO property on an online Auction. We have received the contract, and currently sending all the paper work back to the online auction (Contract, EMD..etc). We have 10 days contingencies built for the loan approval and for the inspection. The property is currently missing a stove and the fridge (from what we see). The loan agent has asked me to get the inspection done ASAP so that they can send an appraiser.

I have few questions.. For the loan to be approved does the property needs to have the stove and a fridge. How would all this work. Will the inspection state what needs to be done for the property to be livable, and than the appraisal will verify it so the loan can be approved? All this needs to be done in 10 days?. Again we have 10 days from today to walk out based on the contingencies (loan and inspection) and 30 days to close the loan.

Please list the process from here on how it will work and what we need to do now and later or any tips would be really appreciated..