Purchase agreement to view wholesale deal
Currently attempting to purchase a house from a wholesaler to BRRRR. I have never seen the inside of the house. His seller wants signed purchase contract and 10k deposit before allowing me to schedule an showing/inspection. The contingency would be on structural damage and mold. My thinking is house was built in 1947 so there's definitely structural damage. The structural contingency seems like my guaranteed 'out'.
My realtor says it's a bad contract to enter but I dont see the problem with it.
Any suggestions on the situation would be appreciated.
ARV = $115K
Purchase = $67k