How do I negotiate the property price after a building and pest inspection?

Cooling-off mechanic: in NSW + VIC + QLD + ACT + SA + TAS + WA, residential contracts have statutory cooling-off periods (3 to 14 business days depending on state) during which you can withdraw or renegotiate. Auctions are usually exempt from cooling-off, that's why auction bidders accept building-and-pest risk upfront. Pre-auction inspections are non-negotiable for serious bidders.

Quotes-not-fears framing: a vendor will not respond to 'the report says the roof needs work', they'll respond to 'here's a written quote from a licensed roofer for $14,500 for the work; we propose adjusting the contract by $10,000.' Always lead with the licensed-trade quote attached. Concrete dollar amounts move negotiations; subjective 'concerns' don't.

What's worth negotiating: structural cracks, active termite damage, electrical safety failures, roof + waterproofing defects, asbestos discovery, illegal construction (no DA approval). What's NOT worth re-opening: minor wear, paint touch-ups, garden tidying, items the report flagged as 'monitor'. Cosmetic items lose buyer-agent credibility at the table.

Vendor's options: accept your reduced offer, refuse and put the contract back on market (risky for them, the next buyer's inspection will find the same defects + they've now lost time), or split the difference. In a buyer's market, vendors typically split or accept ~70-80% of the quote. In a strong sellers market, vendors may walk and re-list.