Buying a home for the first time

I need advice. We are buying a home for the first time. The house it set to be valued 40k more than what I’m getting it for. It has been on the market for 145 days. The previous buyer didn’t fully go through with the purchase. I was curious to know why but my realtor just mentioned that it was due to financial issues. Is there a way to find out why this house has been on the market for so long. Also should I get my own inspector or should I let my realtor help choose the inspector and pay for it.