Can someone help me with the next steps.... I have several (REO) props I want to make offers on... After I submit to the RE agent my "proof of funds" letter will she require me to give her an "earnest $$ deposit?" If so, how much is required? Does the amount depend on the asking price/offer price/ ...? What is the "rule of thumb?" Also, will I need to complete a "purchase agreement" with the lender at this time???
Thanks for your responses!!!