A "good faith" deposit made by the buyer to show they are serious about the purchase. Essential Contingencies
Protects the buyer if their mortgage application is denied. home buying purchase contract
Contingencies are "escape hatches" that allow you to back out of the contract without legal or financial penalty if certain conditions aren't met: A "good faith" deposit made by the buyer
The final purchase price and how it will be paid (e.g., cash vs. financing). cash vs. financing).