Is this contract okay?

Is this contract okay?

More specifically, I am asking about the earnest money and price paid at closing part. I am not sure what values to put in there. Do I need to have earnest money at all? it is a FSBO. I have attached that part of contract- PLEASE HELP! this will be my first deal!

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File Attachments

earnest money

also, if I do need earnest money- do i have to pick out a closing agency to deposit the money before i have a buyer? this is for an assignement deal...thanks so much!!