In return for the buyer`s serious money deposit, the seller withdraws the property from the market. At the end of the purchase, the deposit of serious money is charged to the purchase price. When the contract is terminated in accordance with the terms of the contract, the serious deposit is usually returned to the buyer. This agreement can be used for any purchase or sale of property as long as the construction of the house is completed before the closing date of the contract. If you do not have a real estate purchase agreement, you and the other party do not have a clear understanding of your rights, the potential risks and the economic impact of those potential risks. . . .