Usually the purchaser will do an inspection of the property prior to entering into a contract of sale to make sure the property has no hidden problems. This should especially be done if the property is being sold as-is.
Having said that... with a conventional mortgage the bank does not require an inspection, all the bank requires is an appraisal which is very different. Appraisers simply formulate an opinion of value for the property based on current market conditions and sales. They do not check for defects or problems within the house. If a purchaser is going for an FHA or VA loan, the bank does do a more formal inspection when the appraisal is done, but still it is not the same as you hiring an inspector to come in yourself. With FHA and VA, they simply want to make sure that the plumbing, electric and mechanicals and condition of the home is up to par so to speak. With FHA or VA loans, if the heating system, electrical system, roof or overall condition of the property is bad, the bank may require repairs to be done in order for them to be willing to lend on the home.
With out seeing the actual repairs you are speaking of, it is hard to say if it would be an issues or not, but if you are going with a conventional loan it is a moot point because you will not have a problem, all you have to worry about in that case is the home appraising for the price you are paying for the house.
Mitchell S. Feldman
Associate Broker/ Director of Sales
Madison Estates & Properties, Inc.
Office: (718) 645-1665/ Cell: (917) 805-0783