a few simple short sale questions from a newbie

[Dan Miller]

I'm working on my first short sale. Meeting with the seller tomorrow to collect all of her info. She is in pre-foreclosure and owes $204k on a property that would likely sell for about $135-145k or so.

I have a few questions:

1) Who plays closing costs typically in a short sale?

2) How/where do I create a net sheet for the bank?

3) what is the typical earnest money deposit? $10? $500? Other? Who do I leave it with?

Thanks,
Dan