Trust us, some Real Estate Professionals will try to confuse you with lingo you can't understand.  Let Team Kerper help you avoid being confused.

Transfer Disclosure Statement - A disclosure that the seller fills out to disclose what items the property has that will be conveying and whether or not they are working properly.  The seller also must disclose any problems with the property to the new buyer as a part of this disclosure.

Possession - The time of which the new buyers can move into the home.  Generally, the buyer gives the seller three days from the close of escrow to move out and the buyer takes possession on the third day.  The date and time of possession are set forth as part of the purchase agreement.

Funding - The time at which the lender provides the funds to escrow to close a transaction.  Generally a property will fund one day and record the next.

Recording - The time at which ownership is legally changed from one party to another. 

Database Disclosure - A disclosure in which the buyers' rights to know if there any registered sex offenders in their new neighborhood are disclosed.  Generally it states that as a buyer, you can check with the police department or call the given 900 number to check for registered sex offenders under Megan's Law.