The biggest concern in a real estate transaction for the seller is disclosure.  There is no such thing as an "as is" purchase concerning real estate.  Disclosing every thing you know about the property will lessen the likelihood of a lawsuit when the buyer discovers some defect years after the close of escrow.

One of the biggest concerns for buyers in California is the history of the property relating to water intrusion (i.e. mold/mildew).  The insurance industry keeps track of real property locations not people when it comes to water intrusion.  Several claims relating to water intrusion made by the former owners of your home, within a certain period of time, will make it very costly, if not impossible, to obtain insurance for your home. Any offer you make on the property should be contingent on procuring reasonably priced home owners insurance.