A "good faith" deposit made by the buyer to show they are serious about the purchase. Essential Contingencies
Ensures the home is worth at least the agreed-upon price; if the appraisal comes in low, the buyer can walk away. Preparation and Costs home buying purchase contract
After signing, the buyer typically enters the due diligence phase—securing financing, conducting inspections, and negotiating any necessary repairs before the final closing . What is a real estate purchase agreement? - Rocket Mortgage A "good faith" deposit made by the buyer