I was watching a show on HGTV called "My First House" and saw a Realtor give a client terribly bad advice. A young woman was buying her first home and the house had been on the market for a while with the owner already reducing price once. For some reason, the woman felt that she had to give the seller a "win-win" offer. So she offered the asking price. Unless you are in a hot market with multiple offers coming to sellers, I think that this advice is almost bordering in negligent if not malpractice. Maybe she was using the sellers agent which carries a huge conflict of interest.
Here's my rules of buying:
- never use a sellers agent
- never offer asking price
- always ask for concessions (closing costs, upgrades, etc.)
- never buy on emotions, buy on value
I always buy "as is" now so that I can reduce price, but for a first timer you probably want the option to get an inspection.