Around here both parties have lawyers, the contact is usually 10 -12 tightly spaced legal sized pages, the buyer usually gets a house inspection, the lender sends an appraiser, then the title company does their searches and sends a representative out to conduct a survey inspection or hey have a surveyor prepare a new survey, the Lender has an attorney and there is often a Realtor or two and a mortgage broker and they ALL meet at the same time for the closing at which point the premises are expected to be delivered "vacant and broom clean"