What does the buyer attach to the contract after signing it?

When a buyer signs a real estate contract, they typically attach an earnest deposit, which serves as a demonstration of their serious intent to purchase the property. This deposit is a monetary amount that shows the seller the buyer is committed to completing the transaction. It is a crucial component of the sales process, as it helps to secure the buyer's position and can be used to cover part of the down payment or other costs at closing.

In real estate transactions, the earnest deposit is usually held in escrow until closing, at which point it is credited toward the purchaser's final costs. This practice not only protects the seller by ensuring that the buyer has a financial stake in the deal but also reassures the buyer that the seller will honor the terms of the contract once it is signed.

While other documents like the home inspection report, title report, and closing statement are essential during the transaction process, they are generally not attached to the contract at the point of signing. Instead, they come into play at different stages of the purchasing process. The home inspection report is obtained after the contract is signed as part of due diligence, the title report is a key part of ensuring clear ownership prior to closing, and the closing statement is finalized at or just before the closing itself.