Mgpaz - Since you are still in attorney review, relax - nothing is set in stone. Ask your attorney to address your concerns. If you're not satisfied with the responses, you can walk away.
First of all - ask for (or have your attorney ask for) the disclosure.
You should have seen it, and signed off on it before making your offer. Why didn't your agent make sure that was done?
If the house was built prior to 1978, you should also have signed a lead based paint disclosure and been given a pamphlet on lead paint.
What you "were told" has no bearing, as everything needs to be in writing.
Truthfully, some sellers like to say they are selling "as is", then when faced with true structural issues, they relent and take care of them. Keep in mind that once the seller is made aware of a defect, they are legally bound (as is their agent) to disclose that to any future buyer. The prudent thing to do is deal with the issue right then.
I also suggest you read the verbiage in your contract, as many standard contracts (in NJ) are written stating the home is being sold in "as is" condition..but the buyer may ask for repairs to be made, and still retain the right to walk away if the seller refuses.
As I said above - you are paying an attorney to represent you...make use of his knowledge and expertise.
Read the disclosure..........have the inspection......if the seller won't address significant and legitimate issues, then walk away.