I NEED HELP WITH A WHOLESALE PURCHASE

[Myriam Jacques]

Hello all,

Here is my situation. I found a wholesaler who's selling a duplex that needs to be rehabbed for 75k. The property will need about 25-30k in repairs, and I am ok with the numbers. My situation is this the wholesaler is closing on the property on 9/15/09, he said we need to submit a contract with a non refundable deposit of 5k. What gaurantee do I have that he will close? Why shpuld my deposit be Non refundable? Can I ask to see his contract with the seller?
I need as much help as possible on this.
Many Thanks,
Myriam