Help!!!! First time home buyer in Cali

[chippewastud79]

The inspection is made after an accepted offer. There is a timeline for all of these things. I believe you have 30 days after an accepted offer to get an inspection and there are many results that can void a contract if there are any blaring problems that the seller will not fix. Inspections can also reveal problems that can be deducted from the price if the seller doesn't agree to fix them.

Originally Posted by pnoon

Lots of good advice here but I would disagree with what I bolded. In a "normal" market, you would be correct but in today's market, it is very common for there to be dozen(s) of offers on a home - many of which are well above the asking price. Yes. It is a buyers market but there are so many buyers, many are getting more than their asking price. I just went thru this helpiing my daughter buy her first home. Virtually impossible to find something nice and get it for less than the asking price. (Note: This perspective is based on the market here in southern California. Other areas of the country may be different.)

Being unfamiliar with the Southern California market, you may have gotten me on that one.

I would still hestitate to say making any offer close to the asking price is a good move. There are always room for negotiations and if there are a number of offers that drive the price over what he is willing to pay, it would be easy to walk away.