(Also, this should be understood, but make sure that you have the means to cover the cost of the entire mortgage + utilities for a few months if you have to.)

Inspection and terms are understood, appraisal, good relationships with Title company, insurance agent and mortgage banker should not be a problem...

understood.

DD then is to exclude each time as a possible risk, or determine the impact of failing the investigation.eg:  numbers show cash flow;  go/no-gounit properly zoned for my intent;  go/no-gocan't get title insurance or clear title; - - puntall encumbrances (2nd, 3rd, liens) understood and declared; go/no-gocan I market/rent at FMV and make a profit; go/no-go roofing; $$$foundation; $$$plumbing, including sewer line inspection; $$$heating & cooling equip; $$needs paint, just a one time expense $broken window, awe heck, smallish, one time expense $go thru the list and PUNT if the pain gets too much(expensive) OR make an offer if you can live with it.

Honestly I never understood why some agent and sellers react so unprofessionally to lowball offers, a negation has to start from somewhere, it isn't personal, just make a counter offer.

We had 3 days to cancel, I actually did call for a refund but the man who answered the phone was so kind...He talked me through my fears and said he understood how I was feeling.

Understood.

I just wanted to make sure I understood what you meant by that.

But on a house I am closing on in the morning, I had to sign a disclosure with the agent stating that I understood (even though he was not affiliated with listing agent) that he represented and was being paid by the seller.That does not mean that agent is out to screw the buyer or is not helpful in explaining and cutting through the red-tape and hassles associated with buying RE.

That said, what Bill says should be understood and contemplated as they do apply and you could have liabilities.