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This is what I did when I bought my house-
We played ping pong on the price and I was only able to get the seller to come down $15k. Offer was accepted and we moved on to inspection. The inspection didn't go so well, there were a handful of things that needed repair.
At this stage in the game it's like entering a second negotiation phase. You can choose to walk away from the deal at any time and your realtor should support you in this.
My first response was to tell the seller to fix everything, because let's face it, that's the easiest things to do. The seller came back and said they didn't want to do that, instead they wanted to negotiate the $$ for repairs and would cut me a check after closing. I met with some contractors the inspector hooked me up with to get an estimate on the work, they came back with probably $4500, $6k on the high end. I shot the $6k figure over to the seller and she accepted.
At closing the seller begrudgingly cut me the check and that was it. Honestly, I still need to replace the garage door 6 years after I bought the place, but they did give me the money for it so I have no one to blame but myself and my lazy.
Bottom line, they should drop the price or offer you a check at closing to cover the repairs. If they won't budge then you have the right to walk. If you're not crazy about the house you should probably walk anyway.
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