Is this a cash sale? Escrows for a purchase with a loan generally take 30 days or so, and inspection contingency periods are in the first half of escrow, with the inspection being done ASAP, the first day being optimal. Cash sale escrows can be much shorter, but still, nothing like this is found 4 days before the close of escrow generally. This is the time you'd be doing your final walk through and getting ready to wire your closing funds.
Since we don't know what your purchase agreement says, read that very carefully right now, then call your agent. Know what dates you need to beware of. If you are getting a loan and the lender requests a copy of the inspection report, they may not fund the loan with this type of health hazard present anyway. If you really want the home, get an asbestos abatement professional out there in the morning to do a more thorough inspection. You need to know what the costs could be for dealing with this.
Cory La Scala, REALTOR
Lic # 01443391