Good Faith Deposit Agreement Form

Use a Good Faith Deposit Agreement 0 template to make your document workflow more streamlined.

What the deposit agreement does

A Good Faith Deposit Agreement Form records a buyer’s or other party’s commitment to provide a specified deposit under stated transaction conditions. It identifies the parties, property or transaction, deposit amount, payment timing, contingencies, refund or forfeiture terms, and signatures. The form helps buyers, sellers, brokers, attorneys, and escrow participants document what the deposit means before closing or another agreed milestone. Uploading it to signNow allows fields to be placed, assigned, signed, and preserved with an audit trail. State contract and real-estate law still governs the agreement’s terms and enforceability.

Real estate

Real estate buyers and sellers use the agreement to document deposit amount, payment timing, refund conditions, and transaction obligations before closing.

Property professionals

Attorneys, brokers, and property managers use signed copies to coordinate escrow instructions, communicate conditions, and preserve evidence of each party’s approval.

Clear terms

Place amount, deadline, refund, and contingency fields directly on the agreement so signers review the exact deposit terms before approving.

Signer routing

Assign signature and date fields to each buyer, seller, broker, or other named party, reducing uncertainty about who accepted the deposit arrangement.

Audit evidence

Use a completed PDF and audit trail to show the agreement’s final wording, signer actions, timestamps, and delivery history.

Remote signing

Send the same agreement to multiple parties without printing, scanning, or coordinating separate paper copies during a transaction.

Secure storage

Store the signed deposit agreement with controlled access and encryption, helping protect financial and property transaction information.

Reusable template

Reuse a reviewed template for recurring transactions while updating property details, deposit amounts, and conditions before each send.

How the deposit agreement works

The signNow workflow turns the completed agreement into a routed, signed record while preserving the transaction terms and signer activity.

Upload form: Upload the Good Faith Deposit Agreement Form to signNow.
Review fields: Auto-detect fields, then add missing amount and signature fields.
Route agreement: Assign fields to each buyer, seller, or representative.
Complete record: Collect signatures and store the final audit trail.

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Complete the deposit agreement online

Follow these steps to prepare, route, sign, and preserve the Good Faith Deposit Agreement Form in signNow.

Check terms:
Confirm property, parties, amount, deadline, conditions, and refund terms.
Upload form:
Upload the agreement and review detected fields.
Assign fields:
Assign signature, date, and acknowledgment fields.
Send agreement:
Send the agreement to each named signer.
Store evidence:
Download the signed record and audit trail.

Setting	Recommendation
Authentication method	Email verification with SMS authentication
Signature type	Typed or drawn electronic signature
Audit trail	Retain timestamps, IP data, and action history
Document retention	Keep records for the applicable state limitation period
Encryption and provisioning	Use AES-256 with administrator-controlled user access

Security for deposit agreements

Data at rest:

AES-256 encryption

Data in transit:

TLS 1.2/1.3 encryption

Security certification:

SOC 2 Type II certified

Information security:

ISO 27001 certified

Electronic signatures:

ESIGN and UETA compliant

Privacy controls:

GDPR data safeguards

Prepare the agreement

Upload the completed agreement and place required fields.

Deliver to signers

Send the deposit terms to each designated signer.

Complete signer review

Signers review, approve, and sign the agreement.

Archive the record

Download the signed record and preserve its audit trail.

Best practices for deposit agreements

Accurate terms, assigned fields, and preserved evidence make the signed deposit agreement easier to administer and evaluate later.

Verify every deposit term before sending

Before sending, confirm the property address, deposit amount, payment method, deadline, contingencies, refund terms, and names of every signing party. Compare the final document with the transaction instructions so no outdated clause or blank field remains.

Assign fields to named transaction parties

Assign every signature, initial, date, and acknowledgment field to the correct buyer, seller, broker, or escrow representative. Require each person to review the complete agreement rather than signing an isolated page or relying on an email summary.

Preserve the agreement and audit trail

Export the completed agreement and signNow audit trail after all parties sign. Store both together in a controlled repository, using access permissions that match the transaction team and the applicable state record policy.

Check state execution requirements

Review state requirements with qualified counsel when the deposit agreement involves notarization, a deed, family law, or another excluded document category. ESIGN and UETA do not eliminate every state-specific execution rule.

Identify signer:

Records the signer’s email or configured authentication event.

Record timestamp:

Captures the time each agreement action occurs.

Hash document:

Associates the signed document with its final content.

Seal record:

Preserves changes and signing events as evidence.

Log activity:

Tracks delivery, viewing, signing, and completion events.

Export audit trail:

Allows authorized users to retrieve or export evidence.

Challenges when preparing the agreement

Unclear deposit amounts, payment dates, or refund conditions can create disputes over the parties’ actual agreement.
Missing signer identity details can make it harder to connect each approval with the correct buyer, seller, broker, or escrow party.
Uploading an outdated agreement may leave revised deposit terms outside the signed record and create conflicting versions.
Failing to preserve the completed document and audit trail can weaken evidence of consent, timing, and document integrity.

State rules and exclusions

Notarization

Check state law before relying on electronic notarization.

Excluded documents

ESIGN excludes wills and testamentary trusts.

Family law

Family law decrees may require separate procedures.

Real-estate deeds

Deeds generally require state-compliant acknowledgment.

Troubleshooting deposit agreement signing

Use these answers to resolve field, routing, consent, authentication, and plan questions when preparing the Good Faith Deposit Agreement Form.

Upload the completed Good Faith Deposit Agreement Form, then use signNow’s field detection and editor to place or correct amount, date, initials, and signature fields. Preview every page before routing the agreement so no required transaction term remains unassigned.

Use separate recipient roles and assign each signature or acknowledgment field to the correct party. signNow’s routing order can deliver the agreement sequentially, while a shared signing link may be appropriate only when the intended signer is controlled separately.

Under ESIGN and applicable UETA or New York ESRA rules, electronic records and signatures may have legal effect when intent, consent, attribution, and record access are established. State-specific contract or notarization requirements may still apply.

For consumer-facing electronic records, ESIGN requires disclosure of the right to receive paper records, access to the electronic format, and a process to withdraw consent. Include the required disclosure before collecting a consumer’s electronic signature.

The signNow Business plan includes templates, audit trails, mobile apps, and legally binding eSignatures at $8 per user per month when billed annually. Paid plans include 100 signature invites per user annually, with overage fees applying.

If stronger identity assurance is needed, configure signNow authentication options such as two-factor authentication or SMS verification. For regulated workflows, confirm whether your organization needs HIPAA, 21 CFR Part 11, SSO, or advanced authentication add-ons.

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