Who flips REO Properties

[Bruce F.]

You hear about wholesailing REO but no one knows about it.

[Stephani Davis]

You can get a letter from a transactional funding source before you make your offer, so you can submit it with your offer.

Regarding the earnest deposit, yes, you are going to need to come up with the deposit shortly after the offer is accepted. It's highly unlikely that you are going to get 10 offers accepted at once, unless you are offering too much. If that were to happen, and you couldn't come up with the money for the deposits, you could explain to the realtor(s) that you no longer wish to move forward with the deal because you got another offer accepted. They won't be too happy with you, but it's an option.

If you are still worried about it, just make one offer at a time.

Good luck,
Steph