I moderate a column on the Internet called "Ask An Expert", I'm not necessarily the expert but if you have any real estate questions you would like answered post them here. 

http://www.agentsonline.net/forum/ultimatebb.php/forum/5.html

 If I can't answer them I know where to find the right person that can.

 I learned one interesting fact today about earnest money.

According to the Tennessee Association of Realtors Legal Hotline earnest money is not a requirement to have a valid sales agreement between a buyer and seller.