Questions on the Wholesaling process

[Blake Reynolds]

OK. So I have been doing a lot of research and reading on wholesaling. I have not yet done any sales or assigned any contracts. I have been trying to get as much information as I can before I actually get into it. 

So my question is this:

What happens after you get a property under contract. I understand that you need to then find an investor buyer to assign the contract to but I have noticed some mention of having to send the contract to a Title agent or having it in escrow.

What is that process and what is the meaning of escrow?

Also what happens if you get a property under contract but you cannot find an investor buyer for the property? are you then liable for having to purchase the property or is there a clause in the contract to avoid such an issue?