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The 9 Essential Steps of a Real Estate Closing Process

Movoto

Throughout this time, several inspections are performed to check everything from the physical condition of the home to the underlying financial and legal health of the property. Information uncovered will usually be passed along for lender title insurance purposes to protect against defects.

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Say What? Home-Buying Lingo You Should Know

Zillow

Appraisal management company (AMC) : An institution operated independently of a lender that, once notified by a lender, orders a home appraisal. Cash-value policy : A homeowners insurance policy that pays the replacement cost of a home, minus depreciation, should damage occur.