Here are some key points on what to look for when signing a contract to buy a new home: Make sure the contract includes a provision allowing for a refund of your deposit if you are unable to obtain financing -- within a reasonable specified time -- or if the seller or builder fails to perform his or her part of the contract. If possible, make your deposit and down payment into an escrow account, rather than directly to the seller. Have a real estate agent or attorney go over the agreement before signing. Make sure the sales price is specified in the contract. Ensure the contract requires the seller to transfer the property to you on or before a certain date. The contract should also specify your right to withdraw and get your deposit back if the property is not transferred on time.