Need Help QUICK Buying from a Wholesaler

[Christopher Vargas]

I found a decent property being sold for under $40k. The wholesaler is requiring a nonrefundable $5k earnest money due upon signing of contract. But by email, we agreed to a 3 day inspection period. Does this mean I need to pay the $5k along with my offer and then do an inspection? If so, what happens to that money if it doesn't pass the inspection? I need to get this property under contract quick because of competition.

Or does this mean that I should submit my offer, and then I will be allowed the 3 day inspection period, and then (if it passes) pay the $5k?

The contract that was sent to me has no language of either the inspection period nor the $5k escrow.