The answer simply is no.  An appraisal is done by a licensed or certified appraiser to determine market value when buying a home.  Banks typically require an appraisal to be done when a purchaser is obtaining a mortgage.  A home inspection is not a mortgage requirement, but done by a certified home inspector to determine the overall condition of the property, beyond the scope of an appraisal. An appraisal will report readily observable defects. A home inspection will provide a more thorough description of the condition of the structure, mechanical systems, major appliances, safety concerns etc.