Nevada Real Estate Glossary
Short definitions for common contract and closing terms in Southern Nevada. Select a term for a full explanation.
- SID / LID assessment
A special assessment tied to infrastructure in a district—often paid monthly on top of your mortgage.
- Seller Real Property Disclosure (SRPD)
Nevada’s standard seller disclosure form covering property condition, systems, and known material facts.
- Earnest money deposit
Good-faith funds held in escrow after offer acceptance; applied toward closing or handled per contract if the deal ends.
- HOA resale package
Documents from the homeowners association summarizing dues, rules, reserves, and litigation affecting the property.
- Escrow
Neutral third party that holds funds and documents until all contract conditions are met for closing.
- Title insurance
Insurance that protects against covered title defects recorded before the policy date.
- Contingency
A contract condition that must be satisfied—or waived—for the transaction to continue.
- Closing costs
Fees paid at settlement beyond the purchase price—title, escrow, recording, prepaids, and lender charges.