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I am a first-time apt. buyer who is fortunate to be getting help from my parents in the form of a gifted down payment.

My parents have the intended gift in an investment account of their own, and were planning on keeping it there until I need it (presumably so it can keep earning money).

My question is, at what point do I need to have immediate access to these funds? Should I have this money in my account before I make an offer on a place? I understand that if my offer is accepted I will have to put 10% down upon signing a contract. How fast does this happen? Will I need access to those funds the same day?

Thanks.