Without seeing the horse, it is hard to determine what the problem is. But you may be describing a horse that is winging in behind. This is easiest to see at the trot, but there is probably some deviation at the walk and canter as well. Usually, horses that toe out behind will wing in when they travel.
Usually, most deviations that occur in travel are caused by the horse's conformation. If the deviation is severe enough, it could affect the horse's performance and long-term soundness. Horses that wing in severely may interfere or hit their opposing leg. Check the inside of the hind legs for any signs of injury.
That being said, there are no perfect horses. Horses, like people, have different strides and deviations from the norm based on how their body is put together. Depending on what the expectations are for the horse, this may or may not be an important factor in selection. Other aspects like temperament and overall balance may prove to be more important in overall performance and suitability.
It would be a good idea to have a veterinarian examine the horse during a pre-purchase exam and go over the horse's structure and gaits with you. You should discuss the horse's conformation as well as how the horse's movement might affect long-term soundness or how the horse should be trimmed in the future. In addition, the vet can rule out any neurological issues that might cause abnormal gaits in the horse.
You could also bring out a knowledgeable horse person who does the same riding discipline that you would like to use this horse for. That person can also give their opinion on how suitable this horse would be for your intended purpose.
To learn more about how a horse's conformation can affect its movement, go to:
Horse Gaits: Effects of Structure and Hoof Flight Pattern. Also, watch the archived Web cast on conformation and selection:
http://myhorseuniversity.com/resources/webcasts/conformation_selection_sept07.
Remember that the right horse is out there for you. It is very helpful to have some professionals such as an equine veterinarian or a horse person to give an objective opinion on a horse that you are considering. They can provide an unemotional opinion based on their background and knowledge.
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