Can I renegotiate the price after a bad inspection?
You can ask, if you have a live inspection condition. Your leverage is the ability to walk away, so bring a written contractor quote for the specific defect rather than a page from the inspection report.
With an inspection condition you have three options: waive and proceed, walk away, or go back to the seller. The third is a negotiation and its strength depends entirely on how credible the second is.
What works: one or two significant items, each with a written quote from a licensed contractor. A roofer's number for a roof at end of life is a fact. A sentence in an inspection report saying the roof is aging is an opinion the seller can dismiss.
What does not work: a list of thirty minor findings presented as a discount request. Sellers read that as a buyer looking for a price cut, and in a market with backup offers they will simply say no.
Options other than price: a credit on closing, the seller completing the repair before closing with proof, or holdback of funds in trust. A credit is usually cleanest, because a repair done under time pressure by a seller who is leaving is rarely done well.
And be prepared to accept the answer. If you would proceed anyway, the seller can usually tell.
Next questions
Is a home inspection worth it?
Yes, on any property you have not had inspected. It costs several hundred dollars against a purchase in the high six figures, and its job is to price the next ten years of the building rather than to find a reason to walk away.
Ontario
What conditions should I put in my offer?
Financing and inspection at minimum, plus status certificate review on a condo. Each is a dated right to walk away with your deposit, and each one you remove makes your offer stronger and your position worse.
Ontario