What is the earnest money contract?

If you are thinking of selling your home, you have probably heard of the earnest money contract. A contract that, although not compulsory, is a way of ensuring, by means of a reservation, the interest of both parties (seller and buyer) in carrying out the transaction. That said, the earnest money contract is much more than just collecting money for peace of mind; it is a document in which some of the aspects that will later form part of the purchase contract are reflected.