What can go wrong with a wholesaler?

[Mona V.]

Hi,

I am interested in a property sent to me by a wholesaler. I understand I have to do my own due-diligence and I wouldn't trust their estimated ARV, but I have never dealt with a wholesaler before as a buyer. I searched on the forums to see what all can go wrong, most of the discussions are centered around ARV/repair estimates. Other than these numbers, what should I be careful of while doing a deal with a wholesaler. Should I ask for a copy of the contract? Wholesaler is asking for earnest money, is that a normal thing in wholesale delas? I am looking for any way I could be fooled by a wholesaler (other than ARV/repair estimates) so that I can protect myself. Any help is highly appreciated. Thanks!