Get a Home Inspection - A home inspection will generally cost between $350 and $500, and for that price you get the comfort of knowing the true condition of the house. That's a small price to pay for peace of mind. Home inspectors are trained to see things that folks like us tend to overlook. They inspect the home's foundation, the roof, the electrical system, plumbing, heating and cooling, and the general condition of the property.

When the inspection has been completed, the inspector will give you a list of discrepancies. He will also review this list with you, explaining how serious each item is. Everything on the list is a negotiable item, so technically you could ask the seller to fix anything on it. But you need to listen to your agent's advice on this. If you are overzealous with your "fix it" list, the sellers might tell you to forget it. Be reasonable with your requests, so try and focus on the most serious items, consider the age of the home, and let your agent guide you through it.