In a transaction, who typically signs first and why?

The correct answer identifies the purchaser as the one who typically signs first in a real estate transaction. This occurs because the purchaser is the party initiating the buyer-seller agreement by indicating their intent to proceed with the purchase. The buyer’s signature on the purchase agreement signifies their commitment to the terms discussed and often includes key aspects such as the price, conditions of the sale, and any contingencies.

The significance of the purchaser signing first lies in establishing the framework for the transaction. Once the purchaser signs, it creates a binding contract, which can then move forward to involve the seller. This process ensures that the seller can react to the terms presented by the purchaser, upon which they may then provide their signature in acceptance of those terms.

Understanding this process is essential for anyone involved in real estate transactions, as it lays the groundwork for all subsequent actions, including negotiations, inspections, and the closing process.