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Yes. Buyers can renegotiate the purchase price of a home if an inspection turns up major problems that affect the value of the home or the appraisal yields a value lower than the agreed-upon purchase price.

Inspection contingency If a buyer finds something they're unhappy with during the inspection process and can't make amends with the seller, they can walk away with no consequences.

By way of the Arizona REALTORS® Residential Buyer's Inspection Notice and Seller's Response (BINSR), the buyer can choose to provide the seller with an opportunity to correct identified items of which the buyer disapproves.

IF the Seller does not respond, this means that the Seller will not do anything. Once the Seller responds (unless they agree to everything) the Buyer has five days to either continue to negotiate, accept or cancel the contract with full refund of the Earnest Money.

Generally speaking, no house is perfect, and the home inspector's report is not a work list for the buyer. If the inspection turns up problems, most buyers and sellers end up getting them fixed before escrow or by including money in the final settlement of the sale to pay for the new roof or rusty water heater.

The BINSR is a document used during an Arizona Real Estate transaction that stands for Buyer's Inspection Notice Seller Response.

A buyer and seller's real estate agents will be able to fill them in on the laws in their particular state, but in general a seller is responsible for paying to fix severe water damage or mold issues, to replace missing or broken smoke detectors, and to remedy building code violations, among other things.

When submitting a request for repairs, the buyer sometimes asks for particular contractors to do specific work. The seller has three days from the time of receipt to respond. In that period, the buyer cannot change his/her request. A seller has a choice of three responses.

After a home inspection, a buyer may counter offer. This is a process in which the buyer asks the seller in writing to re-open negotiations and to repair major areas on the inspection report. When purchasing a home, a buyer should be able to make the purchase and not have major issues.

In some cases a buyer may be better off requesting a reduction in the home's sale price to accommodate for the cost of repairs. For example, $10,000 off the purchase price if a buyer knows they will need to make immediate structural repairs.