Banks typically aren't going to fix anything. They "may" agree to a reduction for repairs. My sister just bought a REO last year and negotiated a couple grand for repairs after an inspection turned up a contamination of the well.

I would ask for at least as much as the inspection repairs will cost. Make sure the $10k credit will cover everything the inspection turned up (and hopefully a little more that the inspector couldn't see behind the walls), because if the bank says yes, and the repairs end up costing more, you are going to be out of luck once you close.

Even with "as is" homes, there is usually an inspection contingency in the contract so that you can get out of it and get your deposit back. I would get a lawyer involved if you have any questions. They can interpret the sales contract and let you know what your options are.

Hi, wanted to let you know that Chase took 10k off the agreed upon price based upon the things that were discovered in the inspection. Realtor told me it was not likely to happen, they are sold as is, blah, blah, blah, but they came back within an hour and told us they would do it. Don't be afraid to ask. I was prepared to walk and I think she convinced them of that so you have to seriously be prepared to walk.

erinb007-
Congratulations on sticking to your guns. What does it cost to ask? And if you don't ask, nothing will happen. Good instincts and good work!