Contracts
In Minnesota real estate, which party typically prepares the purchase agreement?
AThe seller's attorney
BThe buyer's agent, typically using a standard Minnesota Association of Realtors form✓ Correct
CThe title company
DThe listing broker only
Explanation
In Minnesota practice, the buyer's agent typically prepares the purchase agreement using a standard MAR form to reflect the buyer's offer terms. The seller's agent then presents it to the seller. This is practical custom; however, attorneys may prepare contracts for complex or unusual transactions.
Related Minnesota Contracts Questions
- What happens to a Minnesota purchase agreement if the buyer does not receive the Seller's Property Disclosure before acceptance?
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- In Minnesota, which of the following is an essential element of a valid real estate purchase agreement?
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