should I get seller in foreclosure sign option purchase agreement to flip his house?

[Gamal Darwish]

Home owner facing foreclosure who did not make a mortgage payment for 39 months called me to buy his house CASH AND CLOSE FAST.

I got him interested in signing option purchase agreement which indicate that he can also find his own buyer while I am trying to find an end buyer.

I want to know if this type of agreement is better than just a standard contract detailing the below terms.

I talked to him to accept the following on the option agreement that was turn later to contract when I found end buyer.

full price 142,500

his walk away money : 22,500 @ closing

reinstating his loan : 70,500

I found cash partner to assign the contract to, for a fee payable @ closing .

is