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Yes, if the inspection finds major structural defects which will affect the value of the home. Major termite damage, water damage, or roof issues are the most common.You probably won't be able to get insurance if your home inspection reveals these types of problems. If you can't get insurance, you can't purchase the home.You can ask the bank to make repairs, negotiate a lower price, or back out if you don't want to deal with it.
I would suggest speaking to a Real Estate Attorney.
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For Sale: $350,000
For Sale: $289,900
For Sale: $240,000