Wholesale Contract Cancellation

[Juan A.]

Hello, all.

I've been reading a lot about wholesaling and listening to various podcasts/YouTube videos in order to get as much exposure from various sources as possible and then compile a way forward for me to get started.

I recently found Sean Terry's videos on YouTube which I enjoyed a lot. I did a quick search here and found that he is highly regarded in the BP community, which made me feel even more comfortable with his advice/teachings.

One of the things I am struggling with is understanding how to get out of a wholesale/assignment contract if I am unable to find a buyer. My plan is to build a list of a few buyers first and then go find deals, but I would still like to understand how I can get out of a contract. At approximately the 28th minute of this video (https://youtu.be/3ZnHCCmUmJM) Sean mentions that you can tell your seller that you need to cancel the contract. I've downloaded his contracts from www.flip2freedom.com/freestuff but don't see a clause fo cancellation. 

Am I missing something? How do you guys typically go about building in a cancel clause into your contracts?

Thanks in advance - any help is greatly appreciated!