It won't tell you everything, but might tell you something.
Not all inspectors use these, but I have at least one that does.
One question might also be if you can get financing?
If there is structural damage that is causing leaks, your appraisal may not this and the underwriter not approve the loan.
The inspection period is negotiable and any and all needed inspections should be allowed by the seller to insure the property is safe. A specific review to test for mold and/or structural issues will most likely cost a little more than the basic home inspection, but will be well worth it in the long run. As Brett said, if anything is found to be in need of repair, it is possible to cancel the contract. You can also negotiate with the seller to have the necessary repairs made prior to closing if you have your heart set on that property. I would be happy to help you with the process, or with any other properties or questions you may have. Just contact me to get started!
JR Premier Properties