My fellow realtor is exactly right. When a bank sells a house by foreclosure, you are buying it "as is" with no rights granted by the bank. You are responsible for anything needed for your mortgage approval (such as a termite treatment) or for the C.O. in a particular community (such as railings, sidewalk repairs, working furnace, smoke detectors and carbon monoxide detectors placed properly) -- you will need to go to the township building department to find out the specific requirements. Lead paint abatement is not a requirement the seller has to resolve. You can have an inspection and lead paint assessment, but it's strictly under the "take it or leave it" standard for any foreclosure. If you are not willing to take these risks, or are not handy, or do not have the means to hire contractors to fix these issues -- don't buy a foreclosure.