I've been doing this for a while but have only had one deal closed with the help of a partner. So I'm not sure what happens after you get the contract signed. My partner signed for the contracts with 1000 down but I don't have that much to put down. Do I wait for my buyer and do it or does that physically come out of my pocket with the deposit. How would that work. Also I've had some that want to call the title company right then and there. Simply put what steps are taking when it comes time to sign the contract and immediately as far as calling and deposits
@Jeremiah M. can you clarify if you are talking about signing an agreement with the Seller or with the buyer? I think you're referring to the buy-side A to B transaction with the Seller. In our standard purchase and sale agreement, we have a window of time before we have to deposit the earnest money. It can be as small as the next business day or as large as the day before closing but we try to remain reasonable and not waste people's time. To cover for the earnest money though, we try to keep some cash in the escrow account of our closing attorney to make sure we're covered.
As far as your buyer's earnest money funds, those funds are technically separate and as far as I know (and I could be wrong) you're not really supposed to touch them, especially not without their permission. Now, you could work something out with the buyer which says a portion of the funds are immediately available regardless of the outcome so that you could use that money for the A to B Earnest Money Deposit but you would likely need to have a pre-existing relationship with the buyer in order to do that.
Let me know if I've misunderstood what you're asking about so I can further clarify.