Are you buying or selling by owner? If not our agent should be answering these questions for your
The buyer typically pays for both the inspection and the appraisal. Repairs if they are done are typically paid for by the seller, but it really is not that simple. The seller could refuse to pay for repairs and you could back out of the deal.
You are right, it is a lot of money to spend to find out. This is one of the things that agents do for you, they already know what is customary for the area.