Is there anything wrong with making an offer at listing price (with inspection contingency) if I don't plan to pay that price/know that I would be lowering my offer significantly after inspections?

Cash only, btw - fixer upper property

To summarize, I'm interested in a property that the seller says is "valued basically for the land," as she thinks the small house on the property is worthless (due to currently being unlivable, but it could be livable once some costly repairs are done). However, the listing price is not appropriate if it's pretty much just for the land & also doesn't take into account the added liabilities if the house needs tens of thousands of work or ends up needing to be torn down if beyond repair.

I would like to have a well inspection, septic inspection, and general home/structural inspection, but the agent won't allow inspections unless I've sent an offer, the offer has been accepted, and I am under contract with the earnest money deposit sent ($2k).

My issue is that I don't know just how severe / how much of an expense the well/plumbing, septic, and general repairs will be, so it feels pointless to come up with an arbitrary lower offer that may not get accepted, which would then prevent me from having the inspections done. So, my question is: is there anything wrong with just offering the listing price (with inspection contingency), since I know that offer would be accepted (even if I don't think the property is worth anywhere near that amount & know that I will lower my offer significantly, possibly to even 50-60% of the list price, once the inspections have been completed)?

submitted by /u/man_s0ldthew0rld
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1prftdv/is_there_anything_wrong_with_making_an_offer_at/