Pre foreclosure and Short Sales as a RE investor

[Mike Larry]

Hi to all, I’m in the beginning stages of RE Investing. Lately I’ve been receiving a lot of calls and quite a few good deals. However this one deal, I would like to buy and flip. What is the next step after me and the seller agree on a price? I have some financing such the FHA or convention loan (if necessary). Perhaps should i sign the contract and send it to the seller lawyer? Or should I contact my personal bank, and let them know the specifics. What exactly is the next step? Thank You in advance to all responses.