Would you buy a house if buyer is responsible for U&O, COs, or certs?

[Phil C.]

There are a few foreclosures I've been eyeing, however, very clearly states that buyer is responsible for any certifications, including Use & Occupancy, Certificate of Occupancy's, permits etc or anything else.   

I find myself very eager to just pull the trigger because of the price, but I'm sure there's a lot more than meets the eye and as a newb investor, it can be an fast way to exit the RE game. Any advice from the experienced folk?

Question is, if the house is even 50% off market value and looks cosmetically ready to rent out, would you go for it?  

[Steve Babiak]

Originally posted by @Mark Beekman:

How does the REO U&O process work? Does the U&O inspector come out before or after closing? If before, do the corrections need to be made in order to close?

In the Phila (PA) suburbs, the towns determine the U&O, and each can be different.  So it depends on the location.  But I usually go to the building dept before closing and request a conditional U&O - basically anybody moving in can only happen upon satisfying the condition that all violations are corrected first.  Then they say whether they will inspect first or not, and what other requirements they have.