• The EARNEST MONEY CONTRACTis a preliminary agreement setting down the terms of the Buyer for the purchase of the property and the Seller's subsequent acceptance of the terms. Usually this offer is accompanied by a sum of money described as "Earnest Money." When the Buyer presents the EARNEST MONEY CONTRACT, including the earnest money to the Seller and the Seller subsequently accepts the offer, the Buyer has secured the right to purchase the real estate upon agreed terms for a limited period.

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