when a buyer decides to purchase a home from a seller both parties enter into a contract the contract doesn t obligate the buyer to purchase the home because reports from the home appraisal and inspection may later reveal problems with the house the contract does however ensure the seller takes the house off the market while it s inspected and appraised to prove the buyer s offer to purchase the property is made in good faith the buyer makes an earnest money deposit emd 
the buyer might be able to reclaim the earnest money deposit if something that was specified ahead of time in the contract goes wrong for instance the earnest money would be returned if the house doesn t appraise for the sales price or the inspection reveals a serious defect provided these contingencies are listed in the contract in general earnest money is returned to the buyer if the seller terminates the deal but is awarded to the seller if the buyer unreasonably terminates the deal 