Buying online

[Abdul Azeez]

Folks - I saw a property that I liked on-line at hubzu.com. Based on visiting the property I put an offer in and  won it. But, i have heard that I need to sign a PSA prepared by them which may only have a provision of 7 days for inspection and 35 days for closing and no attorney review contingency. This concerns me a bit. The lender supposedly also may have some objection to this because she cannot guarantee a 35 day closing for a property that does not have water especially if appraiser may require it as a condition for closing. They haven't sent me a PSA yet and I have not paid any deposit yet but when they do, is it safe to get into a deal like this given the concern around the timeframes? I believe they do have an inspection contingency for major structural things, not minor items. Kindly advise.