In the standard transaction, this is when the Buyer pays the Seller and the Seller delivers a deed to the Buyer. Maintenance Seller should maintain property in same condition until possession is delivered, reasonable wear and tear excepted. If this obligation is divided between Buyer and Seller, the responsibilities of each should be specified. You can inquire about these with the appropriate local governmental office. Specify who will pay taxes to become due in the year of closing.
Examples are utility line easements, alleys, roadways, pipelines, etc.
A problem may arise if an easement interferes with your intended use of the property. The contract should provide for a termite inspection and for remedies if termite damage is found. Warranty of condition of contents Seller should warrant that all plumbing, plumbing fixtures, water heater, electrical wiring, stove, air conditioning system, heating system and all other equipment, appliance and mechanical and electrical apparatus, whether listed or not, will be in good working condition at time of closing. Exceptions should be noted in the contract. If there is any doubt you should itemize what items are included with the sale of the house.