I hate to say but this is not that uncommon. When buying bank owned property the banks usually have you sign addendums that override the normal purchase contracts. These addendums often shorten the times to do inspections and get loan approvals. They also contain provisions for the banks to keep your deposits or charge daily penalties if you fail to perform. They need to be read carefully before signing.
Good luck, Walter
Check your contract to see what is specifically says about the inspection. If you know an attorney, it might be worth while to have them clarify this for you and possibly make contact with the bank. It will not hurt, letting lhem know you have legal representation.
The "Eckler Team"