Wholesalers, do you collect deposit right away?

[Mike Nelson]

When wholesaling an REO for example, when you find an end buyer that wants the property, I have been told not to sign anything until you "feel the money". In other words, dont sign until I have a deposit in escrow. Is this typically how it works? I would think most buyers would feel awkward signing a contract and handing over a deposit without the sellers signature. Our standard Florida state contract gives the buyer 3 days to make the deposit, or the contract is void. Obviously this is all negotiable, but what seems to be the standard?