How much earnest money deposit is needed?
Usually a $1,000 earnest money is required. A very few REO sellers will accept as little as $500. Some require a 3% earnest money deposit. When a cash offer is made, some REO seller’s will require a 10% earnest money deposit. Earnest money deposits for any REO’s currently listed with the REO company are posted under the property address at Realtor Instructions for REO’s.
