First potential deal Los Angeles

[Asif M.]

Hello everyone, I may have my first wholesale deal this week. Need your advice. It's a condo which seller inherited and based on the conversation I had with him he wants out asap. Important questions I have a one page simple contract which I will take with me, if for some reason I'm unable to fulfill the obligation of selling this deal. What kind of out or stipulation can I have on the contract to protect myself. Second. I am in touch with a wholesaler who has done very good in la market and has a pretty good buyers list I am going to give him first peek at it. If he ends up getting from me do I need or should I get a deposit from him and what kind of stipulation should be between me and him in case he does not perform. Thank you all for the help.