Help! Renegotiating Purchase Agreement...proper way???

[Ryan Franklin]

So I have a property under contract. Inspection report (and walkthrough of all units) led to discovery of some serious items that need to be addressed. Seller's agent is expecting to renegotiate, but what is the proper way to do this? Is this a simple email of a new price with an explanation as to why the new number? Or do I this through some more official way (like the LOI or PA, etc)?