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Legally it does not matter who signs the contract first as long as both parties agree to it. Practically speaking, it might be better to sign second. One reason for why it is argued that you should always sign second is that you will be bound by any amendments made after you sign.
The contract will usually be prepared by the vendor's conveyancer, solicitor or real estate agent.
At its most basic, a purchase agreement should include the following: Name and contact information for buyer and seller. The address of the property being sold. The price to be paid for the property. The date of transfer. Disclosures. Contingencies. Signatures.
A sales and purchase agreement (SPA) is a binding legal contract between two parties that obligates a transaction to occur between a buyer and seller. SPAs are typically used for real estate transactions, but they are found in other areas of business.
Typically, the buyer's agent writes up the purchase agreement. However, unless they are legally licensed to practice law, real estate agents generally can't create their own legal contracts.
Most often, the buyer's real estate agent will write up and prepare the purchase agreement for a house. Note that agents (not being practicing attorneys themselves) can't create their own contracts.
A purchase and sale agreement, also called a sales and purchase agreement or a purchase and sales contract, is a legally binding document that parties in a transaction use to stipulate the terms and conditions that will guide the sale and transfer of goods or property.
The purchase contract is typically prepared and written by a real estate agent, not a buyer or a seller.