Earnest Money Contract

Earnest Money Contract

This contract states that {Seller} agrees to furnish {Buyer} with {Property} at a price of {total price} on a future date, as explained below, a promise which is enforced by a sum of {deposit} earnest money provided by {Buyer} upon the execution of this contract. This money will be held by {fund holder} and the seller may make no further offers to any other party until {date of expiration}.

The exact contents of this purchase are {list what is being bought, such as a house and its address}.

The terms of this purchase are as follows: {list specific provisions}.

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 {seller fees}. Buyer agrees to pay {buyer fees}. 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.

(Buyer)		(Seller)
(Signature)		(Signature)
(Date)		(Date)