Potentical REO Wholesale Deal... Your experience

[Hashmat Amin]

I have a off market REO property that is priced .65cents on the dollar. Working with the listing agent, its located in Orange County, CA. My concern is, since the listing agent is going to be using their purchase agreement, how can i position myself safely to be able to do a double close and wholesale this property out. I just got off the phone with the listing agent and made him the $145,000 all cash offer. Has not got back to me yet.

ARV: $220,000

Proposed Purchase Price: $145,000

Repairs: $20,000

What has been everyone's experience wholesaling REO's?