What must be executed by the dealer prior to the purchaser's deposit?

The correct choice emphasizes the necessity for a mutually endorsed deposit and purchase document to be executed by the dealer before any deposit is taken from the purchaser. This requirement is in place to protect both the dealer and the buyer by ensuring that there is a clear and documented agreement outlining the terms of the sale. Such documentation typically details the specifics of the transaction, including the price, terms, and conditions, thus providing legal assurance for both parties involved.

Having this document executed prior to the deposit is crucial as it facilitates communication and understanding regarding expectations and obligations. It signifies that the dealer is committed to the agreement and that the potential buyer has a legal standing regarding their deposit, which in turn helps prevent disputes or misunderstandings about the sale.

Other choices may involve various contractual aspects of the transaction, but they do not serve the primary function of establishing a concrete agreement before a purchaser commits financially. For example, while a dealer installation contract relates to the installation of the home and an agreement with an escrow agent pertains to handling funds during the closing process, neither directly addresses the initial step of solidifying the purchase terms in writing before receiving a deposit. Notification to the Department is also part of regulatory compliance, but it does not pertain to the immediate transactional agreement between the dealer and