Final answer:
A contract can be executed quickly depending on the terms agreed upon and the earnest money or down payment is usually deposited at the title company to secure the purchase of the property.
Step-by-step explanation:
Yes, a contract can be executed quickly depending on the terms agreed upon by the parties involved. The time taken to execute a contract can vary depending on factors such as the complexity of the agreement, negotiations, and the availability of all parties involved to review and sign the contract.
As for the earnest money or down payment, it is typically deposited at the title company to secure the purchase of the property. A contract can be executed quickly depending on the terms agreed upon and the earnest money or down payment is usually deposited at the title company to secure the purchase of the property. The title company acts as a neutral third party and will hold the funds until the transaction is completed.