What is the purpose of a property inspection?

The purpose of a property inspection is to provide an assessment of the property's condition. This involves a thorough evaluation of various aspects of the property, including its structural integrity, systems (such as plumbing, electrical, and HVAC), and overall maintenance. The inspection helps identify any potential issues or deficiencies that may affect the property's value or safety.

A property inspection is generally conducted before a sale is finalized, allowing buyers to make informed decisions based on the findings. It ensures that they are aware of any necessary repairs or upgrades, which can influence negotiations regarding the purchase price or terms.

While establishing a selling price, ensuring compliance with local regulations, and evaluating the local real estate market are important aspects of real estate transactions, they do not directly relate to the primary goal of a property inspection. The focus is specifically on assessing the condition of the property to inform buyers and sellers in their dealings.