When buying Bank Owned Properties, you are buying them "As Is". That means that you can expect the seller not to do any repairs. What it doesn't mean is, that you can not inspect and back out of a deal if your inspection uncovers something that you don't like. Sellers of these properties do not want to force you to buy, or take advantage of a buyer, you.

The inspection process takes place after the offer is signed by both parties and a firm agreement is made. The inspection process is a part of the contract, usually coming 7-10 days after the effective date.(The date the last party signs the offer to purchase to make it a purchase and sale contract.)

Because the sale is an "As Is" sale, doesn't mean that the seller won't do repairs. The buyer just needs to ask. If the sellers thinks that the repairs are warranted, they may do them or reduce the price of the sale to reflect what the repairs may cost.

Also, the inspection is the last out of the buyer on a cash sale. Do not be afraid of an "As Is" contract. Everything can be negotiated in most cases.