What if the property I am buying fails inspection?

[Mark Hu]

I do not like the fact that I can only do a close inspection of a property I am buying after signing the purchase agreement. This seems to open a can of worms, if I find serious problems, and the seller wants to be difficult.

I'm looking at 3-4 unit buildings. I've been told that up to 17 days after the start of escrow it is easy to withdraw from the contract if I find serious problems in the building. Is this true?