Contracts
Under Iowa law, which party typically prepares the purchase agreement in a residential real estate transaction?
AThe title company
BThe buyer's attorney
CThe real estate agent (using a standard form)✓ Correct
DThe Iowa Real Estate Commission
Explanation
In Iowa, real estate agents typically prepare purchase agreements using IREC-approved or standard industry forms. Agents may fill in blanks but should not draft custom legal language, which would constitute the unlicensed practice of law.
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