Legal to have end buyer of REO (not me) submit the binder?

[David Sirmons]

Just wondering if this would work...

1. I have end buyers with cash lined up who want REO from 30k-250k.

2. My part is that of the investor, finding deals, getting them locked up with a buyer contract, then either quitclaiming or double closing to end buyers.

3. I want to know if it's legal and possible to have them put up the binder deposit so that if they're interested in a range of houses, but only want to buy 1 at a time, their binder deposit can be used if my offer on 1 of the houses is accepted.

So in a nutshell, is it legal to ask my buyers for the binder deposit, then for me to submit that binder with my offers, so that when one of my offers is accepted, their binder money is used.