Keep in mind that an inspection is meant to reveal unknown defects that are not reflected in the price.

If you have a contingency period (due diligence), and you find and can prove that there are some non-obvious defects, the bank will often consider dropping the price to keep the deal alive.

That is, in the event the lender gives notice to the borrower that a triggering event has occurred, does the agreement give the lender the right to cure the defect and reinstate the loan?

For example, should I consider a property built in 1900 to be too old to not have any major defects?

- does the tenant have to give written notice of a defect, giving the landlord 30 days (or some other number of days) to remedy the defect?     

It did not visually look that bad but it was a defective Corning roof product.

It's in their best interest to cooperate if they want their money.Where I'm from, the unpaid HOAs are a title defect, and therefore must be paid or waived by the HOA for the title company to insure the title.

It could be it has major code violations or other defects. 

I also include lots of videos in my reports now to help describe and show any defects.

We did sign something saying that we wouldn't use defects against the owner to drop the price, and ultimately that's what we were offering from the beginning.