Contingencies For REOs?

[Dakoda Spencer]

Hey BP,

So, I know that when you are placing an offer on regular houses that is FSBO or listed through the MSL that you add some contingencies to protect yourself. Contingencies for inspection and financing are common.

What about REO properties? I haven't bought anything yet so the subject is still a little cloudy for me. It honestly feels like a dumb questions since a lot (if not all) REOs are sold in "as is" condition. I just don't want to be the dumb person not to ask.

Thanks for the advice!

-Dakoda