Details about the agreement between motivated / desperate seller and wholesaler?

[Corey Demuth]

can anyone explain in detail what the arrangement is between the original seller and the wholesaler? Do you tell them you're a wholesaler or do you initially lead them to believe you are interested in buying the property yourself?

Also, what is the agreement you make with them? I understand there is a contract of sorts but can anyone provide details? Does this contract give you exclusive rights to sell the property for a given timeframe (ie the seller can't sell it to someone else and just give you your deposit back, if he finds a better offer?) If so, how long is this period? How much of a deposit do you need to give them, and do you give it directly to the seller or is it in escrow somehow?