Sewer 'lateral' is the pipng from the sewer stack, usually located in the basement, to the main sewer piping (usually) under the street. If this piping is cast iron, or clay tile, as we often find while inspecting St Louis and St Charles county homes, a sewer lateral 'scope' or 'camera' is highly recommended before closing.
The scope comes with a report from an experienced professional, usually with recommendations of 1 time or regular actions to take, to keep the system in working order.
They may recommend jetting, if there is sediment in a belly, or depressed section of the pipe, or regular chemical treatment to kill roots that may be entering the piping at seams, or, may even find an offset or collapse in the piping, most often undetectable from above ground, which is hard to repair any other way than digging up the piping and replacing it.
PVC piping is less susceptible to intrusion, and newer homes will likely have this type of sewer and storm drain piping. A sewer scope still can be a good idea, to ensure no issues exist underground.