House Under Contract...Now What?

[Mark Lopez]

I recently just got my first house under contract as a real estate wholesaler, but i'm confused as to what my next step is. My plan is to sell the property contract agreement to an investor to fix and flip. I put a $10 EMD on the house and gave it directly to the homeowner. My question is this...Once I have the contract signed, do I have to open an escrow account? Was I supposed to deposit the $10 into the escrow account? If so, how do i go about opening an escrow account to get this started?