Due to the fact, homes are being torn down in Birmingham, inspections contingencies are not always about inspecting the home. Sometimes this time is used to verify lot lines, set backs, all sorts of things. Because of this, I got used to calling the inspection period a "due diligence" period. However, that is not the case around the country. I assume that the inspection period in many areas is pedominatly about the physical home. During the inspection period a buyer is given the chance to fully examine the investment that they are about to make.
The inspection period is NOT the time to RE-negotiate the deal. Now, if during this due diligence time you uncover major material issues, you can use that to garner some sort of concession or adjustment in price. A major material issue is something that you CAN'T SEE during your initial visit to the home.
It makes me crazed when an agent brings me an addendum after an inspection on one of my listings with items so obvious like... a chip in the tile counter tops or a crack in the driveway.
What really makes me nuts is when the agent (or their customers) claim that a LONG list of basic homeownership items are worthy of a $5k concession.
Now, that's not to say that there's NEVER a reason to negotiate after an inspection... sometimes it's the right thing to do. I'm saying that it is up to us as (professional) Realtors to explain to our clients that they should; ONE, expect no home to be perfect and TWO, accept the terms negotiated on the contract.
We are really doing ourselves a disservice when we allow the folly to continue into the inspection period. Ultimately it makes more work for us. Negotiate your best deal from the start and explain the process to your customers.
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