The Earnest Money Contract is a fundamental document in U.S. real estate transactions, used when a buyer wishes to demonstrate serious intent to purchase a property by providing a good faith deposit. This contract type is essential in both residential and commercial real estate transactions, typically representing 1-3% of the purchase price as earnest money. The document is primarily governed by state laws, with additional federal regulations applying to specific aspects of the transaction. It should be used at the initial stage of a property purchase, after price negotiation but before closing, and includes critical elements such as property description, purchase price, earnest money amount, handling of deposits, contingencies, and closing requirements. The contract protects both buyer and seller by clearly defining the terms under which the earnest money may be retained or returned, and establishing the framework for the entire transaction through closing.
Your data doesn't train Genie's AI
You keep IP ownership of your information
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.
OR
Let ¶¶Òõ¶ÌÊÓƵ's market-leading legal AI identify missing terms, unusual language, compliance issues and more - in just seconds.
1. Parties: Identifies the buyer and seller with their complete legal names and addresses
2. Background: Brief context of the transaction and purpose of the agreement
3. Definitions: Key terms used throughout the contract including 'Earnest Money', 'Closing Date', 'Property', etc.
4. Property Description: Detailed legal description of the property being purchased
5. Purchase Price: Total purchase price and payment terms
6. Earnest Money: Amount, payment timeline, and handling of earnest money deposit
7. Escrow Terms: Details of escrow account and escrow agent responsibilities
8. Closing and Possession: Closing date, closing conditions, and possession terms
9. Title and Survey: Requirements for title insurance and property survey
10. Representations and Warranties: Statements of fact by both parties about the property and their capacity to enter the agreement
11. Default and Remedies: Consequences of default by either party and available remedies
12. Notices: How and where formal notices must be delivered
13. General Provisions: Standard contract clauses including governing law, amendments, and entire agreement
1. Financing Contingency: Used when buyer's purchase is contingent on obtaining specific financing
2. Inspection Contingency: Used when buyer wishes to conduct property inspections before proceeding
3. Sale of Existing Home Contingency: Used when buyer's purchase is contingent on selling their current home
4. Mineral Rights: Used when mineral rights are being retained or transferred separately
5. Tenant Rights: Used when property is currently occupied by tenants
6. Environmental Matters: Used when environmental inspections or remediation may be required
7. Personal Property Inclusion: Used when specific personal property items are included in the sale
8. Construction Completion: Used for new construction or properties under renovation
1. Property Description Schedule: Detailed legal description and property boundaries
2. Personal Property Schedule: List of any personal property included in the sale
3. Permitted Exceptions: List of title exceptions that buyer agrees to accept
4. Due Diligence Checklist: List of required inspections and investigations
5. Repair Schedule: List of agreed repairs to be completed before closing
6. Property Disclosure Statement: Seller's disclosure of property condition and known issues
7. Proof of Funds: Documentation of buyer's ability to complete the purchase
8. Timeline Appendix: Detailed timeline of all contingencies, deadlines, and closing date
Authors
Relevant legal definitions
Clauses
Relevant Industries
Real Estate
Banking & Financial Services
Legal Services
Property Development
Construction
Property Management
Insurance
Professional Services
Mortgage Lending
Relevant Teams
Legal
Real Estate Operations
Compliance
Risk Management
Property Management
Contract Administration
Transaction Processing
Investment
Business Development
Due Diligence
Relevant Roles
Real Estate Agent
Real Estate Broker
Property Lawyer
Real Estate Attorney
Title Officer
Escrow Officer
Property Manager
Real Estate Developer
Mortgage Loan Officer
Real Estate Investment Manager
Compliance Officer
Contract Administrator
Real Estate Paralegal
Transaction Coordinator
Real Estate Consultant
Find the exact document you need
Shared Property Ownership Agreement
A U.S.-governed agreement establishing terms and conditions for shared property ownership between multiple parties.
find out more
Simple Real Estate Rental Agreement
A basic legal agreement for residential property rental in the United States, defining terms between landlord and tenant.
find out more
Unimproved Property Listing Agreement
A U.S. legal agreement between a property owner and real estate broker for the marketing and sale of undeveloped land.
find out more
Exclusive Listing Contract
A U.S. legal agreement granting a real estate broker exclusive rights to sell or lease a property for a specified period.
find out more
Rental Listing Agreement
A U.S.-compliant legal agreement between property owners and real estate agents for listing rental properties.
find out more
Simple House Contract
A basic residential property purchase agreement compliant with U.S. real estate laws.
find out more
Joint Ownership Agreement Residential Property
A U.S. legal agreement establishing rights and responsibilities between multiple parties who jointly own residential property.
find out more
Rental Property Contract
A legally binding US agreement between landlord and tenant establishing terms for property rental, conforming to federal and state housing laws.
find out more
Exclusive Seller Listing Agreement
A U.S. real estate contract granting exclusive rights to a broker to market and sell a property for a specified period.
find out more
Standard Listing Agreement
A U.S.-compliant contract between property owner and real estate broker authorizing the marketing and sale of property.
find out more
Limited Listing Agreement
A U.S. real estate contract establishing a non-exclusive relationship between property owner and broker for the listing and sale of property.
find out more
Commercial Land Contract
A U.S. legal agreement governing the sale and purchase of commercial real estate, outlining terms, conditions, and responsibilities of involved parties.
find out more
Real Estate Middleman Contract
A U.S.-governed agreement establishing terms for real estate professionals acting as intermediaries in property transactions.
find out more
Rent To Own Property Agreement
A U.S. legal agreement combining property rental terms with a future purchase option, governed by federal and state real estate laws.
find out more
Simple Property Lease Agreement
A U.S. legal document establishing terms for temporary property rental between landlord and tenant.
find out more
Standard Lease Agreement For House Rental
A legally binding U.S. residential rental agreement that establishes terms and conditions between landlord and tenant, compliant with federal and state housing laws.
find out more
Option To Purchase Property Agreement
A U.S. legal agreement granting the exclusive right to purchase specific property at a set price within an agreed timeframe.
find out more
Non Exclusive Listing Agreement
A U.S. real estate contract allowing multiple brokers to list and sell a property while defining commission terms and service obligations.
find out more
Lease Option Agreement Property
A U.S.-governed agreement combining property lease terms with a future purchase option, establishing rights and obligations for both landlord and tenant.
find out more
Land Deed Of Agreement
A U.S. legal document that transfers property ownership from one party to another, containing essential details of the transfer and complying with federal and state property laws.
find out more
Business Listing Agreement
A U.S.-governed agreement between a business owner and broker for the listing and sale of a business.
find out more
Real Estate Easement Agreement
A U.S. legal agreement establishing rights to use another's property for specific purposes, subject to state property laws.
find out more
Sellers Agreement
A U.S.-governed contract establishing terms and conditions for the sale of goods or services between a seller and buyer.
find out more
Buyer Exclusive Agreement
A U.S. real estate contract establishing exclusive representation rights between a buyer and their chosen real estate agent/broker.
find out more
Land Co Ownership Agreement
A U.S. legal agreement establishing rights and responsibilities between multiple owners of a single property.
find out more
Simple Commercial Lease
A standardized U.S. agreement for basic commercial property leasing arrangements between landlord and tenant.
find out more
Real Estate Partnership Buyout Agreement
A U.S. legal agreement governing the purchase of a departing partner's interest in a real estate partnership by remaining partners.
find out more
Property Sale Contract Between Seller And Buyer
A U.S.-governed legal agreement documenting the terms and conditions of a property sale between buyer and seller.
find out more
Private Home Sale Contract
A legally binding U.S. agreement for the transfer of residential property between private parties.
find out more
Commercial Office Space Lease Agreement
A legally binding agreement under U.S. law that governs the rental of commercial office space between a landlord and tenant.
find out more
No Home Sale Contract
A U.S. real estate contract removing the contingency of the buyer needing to sell their existing home before purchasing a new property.
find out more
Real Estate Reservation Agreement
A U.S. legal document securing a potential buyer's right to purchase a specific property within a defined timeframe.
find out more
Property Tenancy Agreement
A U.S.-governed legal agreement between landlord and tenant establishing terms for property rental and occupancy.
find out more
Joint Sale Agreement Property
A U.S. legal agreement between multiple property owners to jointly sell their property interests, outlining terms, conditions, and profit distribution.
find out more
Simple Land Contract Purchase Agreement
A legally binding agreement used in the U.S. for the purchase and sale of real property, outlining essential terms and conditions of the land transaction.
find out more
Rent To Own Property Contract
A U.S. legal agreement combining property rental and future purchase options, with rent payments potentially contributing to the purchase price.
find out more
Real Estate Purchase Agreement With Seller Financing
A U.S. legal agreement combining property sale terms with seller-provided financing arrangements, subject to federal and state real estate laws.
find out more
Personal Property Agreement
A U.S.-governed legal document establishing ownership rights and transfer conditions for personal property, subject to state laws and the UCC.
find out more
Lease Listing Agreement
A U.S. legal agreement between property owners and real estate agents for marketing and listing rental properties.
find out more
Earnest Money Contract
A U.S. real estate contract that establishes terms for property purchase and earnest money deposit handling, governed by state and federal laws.
find out more
³Ò±ð²Ô¾±±ð’s Security Promise
Genie is the safest place to draft. Here’s how we prioritise your privacy and security.
Your documents are private:
We do not train on your data; ³Ò±ð²Ô¾±±ð’s AI improves independently
All data stored on Genie is private to your organisation
Your documents are protected:
Your documents are protected by ultra-secure 256-bit encryption
We are ISO27001 certified, so your data is secure
Organizational security:
You retain IP ownership of your documents and their information
You have full control over your data and who gets to see it
.png)