What is the difference between a property inspection and a home inspection?

While a property inspection and home inspection may sound like the same thing, there are important differences to consider. Property inspections typically occur only when a homeowner defaults on their mortgage and the property is going into foreclosure. These may also be done periodically or monthly throughout the default period to ensure the lender and loan servicer have the same information, that the property stays in good condition, and that it continues to maintain its value. Home inspections occur when someone buys a home, which includes a structural assessment as well as testing for mold, radon, and water quality.