I know lot of REO homes are sold "as is". Do they take care of the maintenance of the outside to meet the city regulations like cutting grass etc? If not, if an out of town /state buyer purchases the property, how much time does he or she have to bring the property to meet the city requirement? I realize this varies by city, but a general answer would help.
I agree with Danny, but we still see alot of REO properties that have not been well maintained. I recommend you have your agent provide a video of the properties you are interested in prior to closing, so that you can have a good overview of the property and it's condition. it can be done with most cameras and phones- doesn't have to be professional, just an overview.
Also if you are an out of town owner it is important to line up a trustworthy management company before closing.
They maintain it up until time of closing. After that its up to you. The city gives you a little time. I wouldnt want to push it beyond 30 days though. In the winter if the property is vacant it needs to be winterized or you risk busted pipes Im the summer, yard maintinance is the biggest item. Let me know if I can help.