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Earnest Money Contract
This contract states that agrees to furnish with at a price of on a future date, as explained below, a promise which is enforced by a sum of earnest money provided by upon the execution of this contract. This money will be held by and the seller may make no further offers to any other party until .
The exact contents of this purchase are .
The terms of this purchase are as follows: .
When the purchase is completed, the earnest money will be applied towards the total price of the property. The holding company is under no obligation to provide interest on this money. It is understood that this company has no interests in this property of engagement.
Certain fees will be incurred as a result of this exchange. Seller agrees to pay . Buyer agrees to pay . If the buyer terminates this agreement, the earnest money will be forfeited to the seller. If the seller terminates the agreement, the earnest money will be returned to the buyer in its entirety.
It is understood that the buyer is placing a deposit on the property in the condition he or she observed it, and that no alterations will be made. Likewise, it is understood that both parties are legally able to enter into this arrangement. Misrepresentation on either side will result in possible termination of the arrangement.