First Deal - Help With Contract

[Jay Patel]

Hey Guys,

This is the situation I am in. So we offered CASH on a REO house and the bank approved the offer. We have not signed any contracts yet. We have 72 hours in which to to do so. While reviewing the offer with our agent we noticed the offer mentions "0 inspection days". We were hoping to get a full inspection done on the property. It looks good from the surface but we are not experienced investors.

I do not have a lot of experience with inspections. Is the 72 hours before the deadline adequate time to get one done? The water and power were on when we last visited the house before submitting an offer.

Should we attempt to contact the selling agent and ask for a reworded contract that adds in some inspection days? Do we risk loosing the acceptance of the offer?

Thanks in advance for reading this.