First wholesale purchase - what's needed?

[Pouyan G.]

I've identified a deal for a property that is coming from a wholesaler.  The property is in a different state than i reside (ive done a video tour facilitated by wholesaler).  If I make a cash offer and it gets accepted what's needed going forward?  At this point I would get an inspector but I'm not sure how or who would draft a purchase agreement with an inspection contingency.   How would I facilitate a title search or make sure the escrow company is legit?  I've heard wholesale deals don't generally involve realtors so I wanted to see what the pros generally do or see most often in these cases. 

[Rick Pozos]

I have wholesaled a few properties in my 20 or so years in real estate. I have never given a buyer a contingency period. They will do their due dilligence and then they will contract or not. Cash or hard money without finance contingency.

But then again, I am not buying or selling to someone several states away. I make sure that the buyer knows everything that is wrong with the house. I make sure that the buyer is not a first time buyer because there are usually plenty of repairs to do. I dont want to set up someone for failure on their first deal. They bring their contractors, lenders, etc. If they are ready, we contract. And they dont back out at the last minute and leave me hanging. If they do, they are going to lose their earnest money and I am going to have to extend or close on the deal myself.