An Earnest Money Contract is a crucial document in the real estate acquisition process, outlining the intention of a buyer to purchase a property and of a seller to sell it. It typically includes details about the amount of earnest money paid, the conditions under which the money will be applied or forfeited, and other terms of the sale.
A Sales Contract is a legally binding agreement between a buyer and seller that outlines the terms and conditions of the sale of property, including the price, closing date, type of deed, and other necessary details to complete the transaction.
