What does a pact look like

What does a Pact look like? When does one know the time is right? What elements syou are reasonabhould be in a pact? I do not really believe spirits or demons want to “buy” a person soul, but can the 'terms and length of service be limited?
I believe you are learned by experiance and reasonable- have you made any “Pact” mistakes in the past you later found to be silly childish misconceptions in your earlier years which you think later you wish you had not- not because you paid to high a price; but you later found were unneeded and even unwanted by the demon as it lessened your stature in their eyes?
Did any demons correct you and tell you not to “sell yourself cheap”?
Thanks for all you have done-SPEED AND POWER TO YOU!!