Using a Home Inspector
With most things you purchase there is a warranty or a return privilege. Even though this is the most important purchase you'll likely ever make, there is no such warranty. Once you have purchased your home, you will be on your own to repair any problems. This makes the services of a home inspector critical.
Always get a home inspection. In a seller's market there's a tendency for buyers to waive home inpections in order to win the contract, but it's never a good idea. With a home inspection, you are essentially buying the property "as is." For all you know, it's being eaten from the ground up by termites.
There are, unfortunately, few licensing requirements for home inspectors. Anyone can hang out a shingle claiming to be a home inspector, so get competent advice on who to use. Your agent should be able to recommend someone. Look for someone with a background in home construction, and ask for references. There are several organizations that many inspectors belong to which do maintain standards for membership. One is the ASHI, American Society of Home Inspectors, and the NAHI, National Association of Home Inspectors. Both provide lists of member inspectors in your area.
You may need to contract with specialists to inspect a swimming pool, septic system or underground storage tank. Home inspectors may also not be assessing the condition of appliances. Make sure you understand the scope of his/her inspection and that it will be adequate to protect your interests.