I think there's an old school group of wholesalers out there who are teaching a bunch of ancient crap to our community. 

But far more important is what you won't see.You won't see exterior wall that are bowing out (common prior to the early 1800s), floors that are out of level due to shrinking cedar post supports (also common prior to the mid 1800s), ancient cast iron plumbing, knob & tube wiring, termite tunnels or rotted beams and you won't be able to smell the property.One of the first things I do at a property is to head to the basement and sniff. 

I've managed some old homes that were never fully updated, so they had a lot of issues with ancient boilers, old wiring, drafty old windows, etc.

My property in Richardson has an ancient system. 

Moisture / water / mold, knob & tube wiring, foundation issues, ancient plumbing, rust on the breaker panels, termite tunnels, powder post beetle damage, cedar post supports, improper footings, temporary lally columns, etc.As to writing an offer, that's a sensible and common approach. 

If it's not termites and knob and tube wiring on this one, it's a bad sewer line and ancient furnace in the next one.

I did replace ALL the ancient dust coated hydronic baseboard heaters with new ones (got them 1/2 price).

@William MeroneThis day and age, checks of any kind are ancient and a waste.

I once had someone go through the roll-off and haul 3 dead water heaters out that had been in the basement, and an ancient dead central heating unit.

If ancient, maybe just roll with what was done and warn them for next time.