• A description of the property, including separate personal property that is to be conveyed to the buyer.
• The amount of earnest money (also "deposit"), who holds it and what happens to it in case of default. Earnest money is a partial down payment that shows the buyer's good faith in buying. Normally earnest money deposits are returned to the buyer if the contingencies are not met.
• The sale price of your house.
• The amount of the buyer's down payment. This amount, plus the mortgage loan, equals the purchase price.
• The amount of mortgage loan the buyer intends to obtain, the maximum interest rate the buyer will pay and a time limit to secure loan approval, and/or specified seller financing.
• Discount points, and who pays them.
• The date of settlement.
• Possession date, and any pre- or post-settlement occupancy agreement if you wish to stay in the house after settlement and pay rent, or the buyer needs to occupy before settlement.
• Contingencies that will determine the fulfillment of the contract, such as: prompt inspection to determine the condition of your house; required improvements, such as painting, roofing; termite inspection; legal review of the contract by either or both buyer's or seller's lawyer(s).
• Your signature, and signature of the buyer.

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