Re. cracks - some are pretty innocent and have to do with normal settlement of the house.
In most settlement cases, the cracks will be stable, meaning the house settled at some point in time and the cracks won't develop at all or at the tiny rate, and mostly those that are already there.
In the case of normal settlement cracks, you can chisel them making a letter V (if you look from the side), then fill them with the cement mixture, level, and you can paint them over with a special paint (ask Home Depot or Loews specialists in paint) - to protect the house from insects colonizing it.
Other cracks have to do with structural issues, which need to be checked by a structural engineer, not a contractor. The engineer will calculate if the house was built correctly, with appropriate beams (sizewise) f.e. Sometimes, there could be foundation problems (some fixable and some to stay away from). The engineer will charge for his visit and calculations - but it is worth every penny!
You do want to have a peace of mind while living in the house, and you want to maintain it too prevent any future problems - so the structural engineer's visit will help a great deal.
There also could be seismic cracks, if you live in CA.
In any case, also check fro radon gas.
General contractor will help to give you estimates of how much the repairs could be, better than the home inspector (unless the home inspector is also a general contractor currently working as such).
I'd use 3 quotes to get a good idea of the real pricing.
Regrading is a very good idea - but you also need to check for the flood zone or flood preservation potential issues (in the city). The city may or may not allow regarding, or they could need an engineering plan of what would need to be done.
Based on this inspection report, and if it was not an "as is" contract, negotiate the price down!
Best of luck,
Beachfront Realty, Inc.