What do "inspections" refer to in real estate?

The term "inspections" in real estate specifically refers to professional evaluations of a property to assess its condition prior to purchase. This process is crucial because it helps potential buyers identify issues that could affect the property's value or their decision to purchase it. Home inspections typically look for structural integrity, safety issues, and the condition of key systems such as plumbing, electrical, and HVAC. By obtaining a thorough understanding of the property's condition, buyers can make informed decisions and negotiate repairs or credits based on the findings, ultimately protecting their investment.

The other choices do not accurately represent the concept of inspections in the context of real estate. Reviews conducted by tax assessors focus on valuation and taxation rather than condition assessment. Quality assurance for new constructions pertains to compliance with building codes and standards, which while important, is not what is typically referred to as inspections in the purchasing context. Evaluating market trends is related to broader market analysis and is not specifically tied to the physical condition of a property.