It can be a real challenge in this competitive market just to get an accepted full-priced offer on the home of your choice. There is generally no opportunity to do inspections before getting a home under contract. You have to view new listings the day they come out, have your prequal ready and make an offer that day in order to win the bid. It's good to know that, thanks to the inspection period, you don't have to have all the answers before you make an offer.
In Arizona, our standard contract provides buyers with a 10-day inspection / due diligence /cancellation period which begins upon acceptance of the agreement. It is best to schedule all the inspections you want as soon as possible to allow time to receive and review reports to consider your next steps. Use this time to investigate every aspect that concerns you.
During this 10-day period the buyer may cancel the contract for any reason and receive a refund of their earnest money deposit. If for whatever reason the buyer no longer wants the home this is the chance to get out. Of course, this shouldn't be taken lightly as the buyer will be investing money in the inspections and the seller will be inconvenienced by pulling the home off the market while you decide. Even if a house is being sold "as-is" you still can and should do your inspections and decide your level of risk before the ten days expire.
Most sellers will agree to reasonable repairs if they can afford to do them. It is wise to request the repair or replacement of items that don't function properly instead of walking away from a house once you've found it and gotten it under contract, unless you deem the issues to be too serious. If money is an issue for the seller, they can counter your requests with a dollar amount they can credit you at closing in lieu or repairs you've requested. Another option is to hire a company to do the repairs that will wait until the closing to be paid for their work.
Once a buyer has submitted the request for repairs (known as the BINSR - Buyer Inspection Notice/Seller Response), the seller has up to 10 days to decide how they wish to respond. The seller may agree to do all the repairs requested by the buyer, they may counter the request with a modified list of repairs, or the seller may refuse to do any repairs at all. The buyer then decides if they want to cancel or accept the seller's response as it is written. The seller should provide receipts for the agreed upon work prior to close of escrow. The buyer can "walk-through" the property 3 days prior to closing to be sure repairs are made and the house is in the expected condition.
Guiding you through the ins and outs of rules like these are just part of why it is so important to hire a Realtor!