Some buyers will demand a discount before buying such a property.

My impression is that it was a zip code not in high demand as everything West was the focus as far as growth.  

Wouldn't prudence suggest they ask me to demand a copy from my father, to make sure he didn't title mom's car in my name. 35 years ago he and mom were my guardians and provided all my support... :-) I mean goodness they're loaning me $108,000 for 30 years, the least I could do is produce mom's car title...  

As a PERSON you can do whatever you want and whatever your ethics demand. As

Demand a "nonrefundable" Earnest money deposit of at least a grand.

Demand a "nonrefundable" Earnest money deposit of at least a grand.

Some sellers (FMA , Banks, HUD,...) demand a minimum...and the minimums are all different.Q:  I don't want to lose this money if the offer is accepted and then a house inspection goes through and there are unforeseen major repairs needed on the house... is that what the property inspection contingency is for?

Despite interest rates going up and this cooling off demand a bit and stagnating housing prices, you will still have the new shiny house that is desired by all buyers. 

You should be able to demand a higher rental rate in exchange for a longer lease.Hope you can find someone with money who will be able to furnish it.

No doubt it will be redeveloped to meet current market demand as it should be.