When it comes to purchasing or selling a property, a key document you`ll need is a purchase and sale agreement (PSA). This document outlines the terms of the transaction, including the price, contingencies, and deadlines. However, who usually writes the PSA?

In most cases, the PSA is drafted by the buyer`s real estate agent or attorney. This is because the buyer typically initiates the transaction and has a vested interest in protecting their investment. The buyer`s representative will work with the seller`s representative to negotiate the terms of the agreement and ensure that both parties are satisfied with the terms.

Once the terms of the PSA are agreed upon, the seller`s agent or attorney may review and make revisions to the document before it is signed. This is done to ensure that the seller is also protected and that the agreement is fair for both parties.

It`s worth noting that in some cases, the buyer or seller may choose to draft the PSA themselves. However, this is not recommended unless both parties are experienced in real estate transactions and understand all the legal implications.

In addition to the buyer and seller, other parties may be involved in the drafting of the PSA. For example, if the property is subject to a mortgage, the lender may have specific requirements or contingencies that must be included in the agreement. Additionally, if the property is part of a homeowners association, the PSA may need to include provisions related to HOA fees and regulations.

Ultimately, the PSA is a crucial document in any real estate transaction and should be written by an experienced professional to ensure that all parties are protected and the terms are legally binding. If you`re buying or selling a property, be sure to work with a knowledgeable agent or attorney who can guide you through the process and ensure that your interests are represented.