QUOTE (Joey11 @ 06/07/2012, 01:03 PM)
It can be a good idea to get the inspection first, although it is expensive that way. The inspection may turn up things that affect what you would offer - i.e. that the house needs a new roof or other major works. Whereas if you've already put in an offer, it is harder to withdraw then renegotiate. You could also have an argument as to what an "acceptable" report is.
You can re-negotiate the offer once the report comes back and you can easily pull out of a contract. You can pull out if there is a cracked tile if you want. If something unsuitable comes back then you can negotiate to either have it fixed by the owners or have the price that it would cost to fix deducted from the offer. If the owner doesn't want to do either then you can pull out of the contract.
The contract fell through on the first house we sold because there was some cracking in the brick work. We had already had the foundations fixed and had an engineers report to prove so, but the buyers freaked out and pulled out.
The last house we sold the buyers wanted every little thing that came up in the report fixed. (Not that anyone came back to check it was done! It was a rental investment) They weren't major and so we did them.