Generic And/or Assigns Purchase Contracts

[Austin Faux]

Has anyone ever gotten burned from using a generic and/or assign contract for wholesaling?  I've got a good deal in Arkansas but I live in Colorado, and I want to get it under contract asap.  I'm thinking of just getting it under contract to wholesale (Assign or Double Close) using a generic contract that says the purchase price, escape clauses, 60 day close, and lets me market it, etc.  I just don't want to lose it now that I got a "Yes" in a state I'm not familiar with.  

Any ideas?