What happens if you cannot sell a wholesale deal?

[Bill Plymouth]

From what I understand, Whole Salers get deals under contract for less than market value and sell the rights to purchase the property to the highest bidder.  This is  accurate, correct?  As a whole saler you are under contract to purchase a property.  What happens if you cannot move a deal?  Do you purchase the property or cancel the contract?  

[Kevin Whisler]

Have a due diligence contingency built into your contract; so earnest money deposit would be submitted after a 5 or 10 business day period contingent on your partner, contractor, funding, etc. I mean it could be your family dog for crying out loud. But the point is, the due diligence period is a window where you can wholesale the property and have the buyer submit deposit so you dont have to come out of pocket. And if you can't sell it during that 5-10 day period, you're off the hook.