Wow thank you so much for the input. I didn't give a thought about why they might want to sign first but I should have considered that first. Wonder why as well hmm..memorandum of understanding with a lock-out agreement? its not legally binding but I suppose it lays out the terms and agreements prior to the actual transaction. in an interview, id maybe ask for more clarification and why the parties want to sign before approval - is it to prevent the seller from engaging with other parties? etc. im not sure but sounds like an interesting question
Any insight into this would be appreciated