When it comes to purchasing or selling a property, one of the most important steps is preparing and finalizing the contract. However, the question of who typically prepares the contract, the buyer or the seller, can often be a source of confusion. The answer, as with many legal matters, is that it largely depends on the specific circumstances of the transaction.

In a typical real estate transaction, the seller`s agent or attorney will prepare the initial version of the contract. This is because the seller is typically the party who has the most control and knowledge of the property being sold. The seller`s agent or attorney will draft the contract in accordance with the seller`s preferences and the terms of the sale.

However, the buyer`s agent or attorney will review the contract and negotiate any changes that are necessary to protect the buyer`s interests. This is particularly important in situations where the contract includes contingencies, such as financing, inspection, or appraisal contingencies. The buyer`s agent or attorney will work to ensure that these contingencies are included in the contract and that they are favorable to the buyer.

Ultimately, the contract is a legally binding agreement between the buyer and seller, and both parties should have representation to ensure that their interests are protected. While it is generally the seller`s agent or attorney who prepares the initial version of the contract, the buyer`s agent or attorney will play a crucial role in reviewing and negotiating the terms of the agreement.

In some cases, particularly in for-sale-by-owner transactions, the buyer or seller may choose to prepare the contract themselves. However, this is generally not recommended, as real estate contracts can be complex documents that require a thorough understanding of real estate law and local regulations.

In conclusion, while the seller`s agent or attorney generally prepares the initial version of a real estate contract, both the buyer and seller should have legal representation to ensure that their interests are protected. The buyer`s agent or attorney will play a crucial role in reviewing and negotiating the terms of the agreement, particularly when it comes to contingencies. Ultimately, a well-drafted contract that protects the interests of both parties is essential for a successful real estate transaction.