Buy wants to close on damaged house

[Julia Cramer]

Hello all,  I am under contract to purchase a foreclosure.  The only contingency was to remove a large tree that hung over the house.  The tree company dropped a large piece on the front porch doing quite a bit of damage.  The bank now wants to close on the property, will not extend, and we can deal with the insurance claim ourselves.  Our agent sees no problem with this.  The tree service assures us the claim is in place and the damage will get fixed.  If there is a problem we will have no legal recourse that I can see.  

This house was built by my parents and I own the front acreage.  I do want the house but I don't want to make an expensive mistake.