I went through this experience last spring and it is not something I want to do again in the near future. In our area most houses have a list price, but generally people will put in an excalating clause (permitting the real estate agent to raise the offer price to a pre-set limit) and there are no stipulations. You can have a house inspection but it will not let you back out of the sale (even if there is something drastically wrong with the house).

Last spring I was buying a house and spending alot of time travelling for work so it was a baaaaaaaad experience all round.

My only advice is to keep looking, the right house will come along. Be prepared to do some renovation work on any house you buy. And most importantly remember to have a glass of wine (or two) after spending the day house shopping...