Don't understand what to do with this contract? And is this the same contract used to do assignment deals?

Don't understand what to do with this contract? And is this the same contract used to do assignment deals?

Agreement to Purchase (For getting started in Real Estate)

Agreement to Purchase
This is a legally binding contract. If you do not understand this
contract, please seek legal council.
THIS AGREEMENT entered into on the _____ day of _________, 20____ by and
______________________________ or his/her/their assignee(s), hereinafter
referred to as "Buyer", and __________________________________,
Hereinafter referred to as "Seller".
PROPERTY PURCHASED: In consideration of the mutual promises herein
contained, the Seller agrees to sell, and the Buyer agrees to buy, in
accordance with the terms and conditions of this Agreement, the
following described Real Property, Situated in the City of
_______________________, the County of ______________ and the State of
____________, and described as follows:
Together with all the improvements thereon, all privileges,
appurtenances, easements, and all fixtures presently situated in said
building, including, but not by way of limitation: all heating and air
conditioning equipment including window units; all electrical, plumbing
and bathroom fixtures; water softeners; shades; venetian blinds;
awnings; curtains, draperies, & traverse rods; storm windows & doors;
window & door screens; affixed mirrors; wall to wall, stair, and similar
attached floor covering and carpets; television aerials, and rotor
operating boxes; garage door openers and similar operating devices;
ranges, ovens, refrigerators, dishwashers, garbage disposal, trash
compactors, humidifiers; washing machines; dryer; all affixed or
built-in furniture and fixtures; all landscaping, trees and shrubs; all
utility/storage buildings or sheds; all building and yard maintenance
equipment and tools; all furniture and equipment used by or rented to
the tenants; except:
In addition to the above the following shall be included in the sale:
PRICE AND TERMS: Buyer hereby agrees to pay for said property the sum
_________________________ Dollars ($_____________) payable as follows:
A personal note in the amount of _____________________ Dollars
($_____________) is attached hereto as "Earnest Money" to apply toward
the purchase price. In the event the offer is not accepted or if
Seller defaults in the performance of this contract or if Buyer
terminates this contract as hereafter provided, the Earnest Money
shall be promptly returned to Buyer.


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- wrecklessKane

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