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Updated over 10 years ago on . Most recent reply
Question about earnest money when submitting a offer to a REO owned by Fannie Mae
I'm trying to submit an offer for an REO property owed by Fannie Mae right now through my realtor.
My question is can I wait until my offer is accepted by Fannie Mae before I actually make the earnest money deposit with the title company, or do I have to actually deposit the earnest money before Fannie Mae will give an acceptance to my offer?
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Wayne Brooks
#1 Foreclosures Contributor
#1 Foreclosures Contributor
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- West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
#1 Foreclosures Contributor
- Real Estate Professional
- West Palm Beach, FL
EM will be due if your offer is accepted. If you don't have a preapproval or a legit POF, your offer won't be accepted.