It is exactly what it says. You inspect your new house or condo before the deal closes. This is the time to be the most prepared. It’s important to make sure that you find deficiencies in and outside of your new home (condo’s just inspect inside), but, do not nitpik. I tell my clients that deficiencies on big ticket items are more important that the paint drip on the wall. Your time is important, use it wisely during your PDI.