When to open escrow

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Still educating myself on the process

And still not clear on this.

If i sing a purchase contract with a motivated seller, do i immediately go and open escrow and use whatever earnest money agreed upon to do so, then market the deal to cash buyers, assign it, then take the assignment contract back to escrow

Or  do i start marketing the deal out and find a cash buyer first and then assign it and then do i take the purchase contract and assignment contract to escrow? 

Dont really understand this portion of wholesaling

Thx