Then the lender will inspect and reimburse you for work done.

This method in turn allows the bank to price the property closer to market at the listing time.

The two most used out clauses are "subject to inspection" and "subject to partners approval"You also need to make sure that the earnest money is the sole remedy against you incase you cannot find a buyer and get the house closed.

I do plan on spending some time in the location that I do buy.Most of you guys say to buy closer to home.

It looks like our house is going to close, one or two items left on the inspection punch list.We'll be out of here on April 22nd and (depending on what time the movers finish up) in CO a day or two later.Typical ordeal of the crap with selling the house, inspections etc.I can't wait, although my bride will kill me if we get any "late" April snow this year.

-You can make a statement saying "Hey listen the house hasn't passed final inspection and I'm not asking you guys to pay for anything it doesn't pass.

You buy the house, fix it up, upgrade everything for at least 10 years (how long the AC units last here in the SE), and if the bank only gives you 80% of ARV (which is 130k), you have 104k loan, closer to 110k once you figure in closing costs.

Now we are going to have to sue them for all the money we wasted on inspections and lawyer etc.

But you're not going to be able to get inspections for this if you're doing it in a rental.

BTW: you can compare some parts of an Appraisal with a Home Inspection report.