escrow
EMD
Earnest money deposit - The money you will deposit into escrow to show the seller you've got some skin in the game. Escrow will hold that money until you either close or cancel escrow. If you end up closing escrow, your EMD goes towards your closing costs.
Seller Disclosures
These disclosures are meant to share with you everything the seller knows (or remembers) about the home. You should absolutely still get inspections on the property. These disclosures come in the form of questionnaire style documents as well as reports ordered by escrow such as the Natural Hazard Disclosure Report and Preliminary Title Report.
Inspections
The types of inspections you will get depends on what type of property you are buying. The most common inspections for residential purchases are a general home inspection, roof inspection, wood destroying pest inspection, and in some cases a sewer scope.
Contingencies
- Investigation Contingency
- Appraisal Contingency
- Loan Contingency
Final Walk Through
The purpose of the final walk through is to confirm that the home is in the same condition (or better) than the day you placed your offer. This is also the time to verify that repairs have been completed if you and the seller agreed to them in escrow.