Putting together an earnest deposit shows your commitment and good faith to the seller. REAL PROPERTY: Purchaser agrees to buy and Seller agrees to sell the land and all improvements thereon located in the.Get a comprehensive understanding of Virginia real estate purchase and sale agreements with our indepth overview and free template. Seller may rescind this contract and return the Purchaser's earnest money deposit under any of the following conditions: a. Fill in the total purchase price for the property. Specify the amount in U.S. dollars. 7. Deciding on Earnest Money Deposit amount in Virginia Real Estate offer is complex and depends on sales price, strategy and competition. Earnest Money Deposit: The final purchase price should include an earnest money deposit. Earnest money is never required. You can offer less than the norm in your market — or none at all.