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If it's the kind of stuff that every house of that age has - such as paint needing repair, maybe a bit of rust in gutters, worn carpet, old HWS units and other things that building inspectors highlight that one should expect anyway - then my view as both a vendor and purchaser is that all those...

Are we talking structural damage worth multiple % of purchase price? If so, then I guess you try to renegotiate and if they don't accept, you cool off and lose your 0.25% (or whatever it is).