Best way to buy home that needs repairs

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Recently buyers who were in contract to purchase a home in Oakland, Calif., asked the seller to credit them money in escrow. The money was to be applied toward repairs that were recommended in the course of the buyers' inspections. The sellers were offended. They had agreed to sell for significantly less than their asking price. They weren't inclined to make any further concessions. So they turned down the buyers' request and told their agent to put the house back on the market. The buyers, realizing that they were buying the house at a fair price, removed their inspection contingency and the sale went through. Most residential home purchase contracts include an inspection contingency for the buyers to inspect the property. It's not uncommon for items to surface during the inspections that were previously unknown to both the buyer and seller. Depending on how the contract is written, the buyers may be able to simply withdraw from the contract without penalty if they no lon...