In a transaction, who is responsible for providing the purchase agreement?

In a real estate transaction, the purchase agreement is a crucial document that outlines the terms and conditions agreed upon by both parties involved—the buyer and the seller. This agreement serves as a binding contract once both sides have signed it, detailing aspects such as the purchase price, property description, contingencies, and closing date.

The correct answer highlights that the buyer and seller come together to negotiate and agree on the specific terms that will be included in the purchase agreement. This shared responsibility emphasizes the collaborative nature of the transaction; both parties must reach consensus on the details before moving forward.

While real estate agents often facilitate this process and may provide templates or assist in drafting the agreement, it ultimately stems from the mutual agreement of the buyer and seller. Each party must be satisfied with the terms for the agreement to be valid and enforceable.

The other choices do not accurately depict this shared responsibility. The tenant is typically not involved in the purchase agreement for property that is being bought or sold. Although the seller has responsibilities in the transaction, they alone do not solely provide the purchase agreement without the buyer's input and agreement on the terms. The real estate agent plays a supporting role by helping to coordinate and finalize the terms, but they do not have unilateral responsibility for crafting the