A sales contract is a form proving that ownership of an item has been transferred from one party to another. It can be used as part of a sales contract to prove that the goods have officially changed ownership. Earnest Money: In the simple real estate purchase agreement, there may be a mention of Earnest Money. This reference refers to the count offered by the buyer to demonstrate a strong interest in the home. Earnest Money will remain the property of the potential buyer until the contract is concluded. If the seller sells the home to another, Earnest Money funds return to the buyer who did not purchase the property. According to 2017 Profile of Home Buyers and Sellers, the following are the best resources for finding a home for sale When selling or buying real estate, use a real estate purchase agreement. .