Buying a home is the single and largest investment you will ever make. Why would you want to put this investment on the line and risk that there could be problems with it in the future. As a Realtor, I try to get all of my clients to get an inspection. If they decide not to have one usually I hear later that there were defects with the home.
A home inspection is an objective visual inspection of the condition of the home by an inspector. The inspector usually goes over the major systems in the house and if they do not, just ask them and they can tell you. The home inspection itself should point out significant problems with the house. If you asked the seller to make repairs in the contract you can ask the seller to fix the repairable and replaceable defects. Most of the time, the seller will not fix the minor flaws and almost never will they fix cosmetic flaws in the home such as a paint color, a hole in the wall or a stain on the carpet.
Many issues can be hidden from you and me just by looking at the house. However, a licensed inspector, someone who does this everyday, is trained to find and recognize the defects of the house. They are also trained to find problems that sellers might have covered up or repairs that need to be done, that no one even had a clue might be a problem.
Always let a licensed inspector do the inspection. Never a friend or family member if they are not licensed. If you need a list of inspectors in the Edmond/OKC area, just email me at firstname.lastname@example.org and I will send them to you.