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.
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.