No, it's not. I've bought and/or sold 4 houses and never got a home inspection. It's just another way to pad the deal.
Speaking of termite inspections, where I moved from they (pest guys) had the tents unrolled before the contract ink had dried.
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Hot and tropical, roaches and both sub and drywood termites could be found in every house.
When I built 11 years ago I treated the beams and plumbing entry points before the slab was poured with 78% chlordane. A powerful and fool proof barrier to subterrean termites that the EPA, in all of its wisdom took off the market in the 80's. Got the last gallon at a nursery. Still have some.
The chemicals used for termite soil barriers today are like our president - they're pussies.