First possible wholesale deal. Need help.

[Kyle Madero]

The other day when driving around, I came across a distressed property. It looks as though the owners still live there but the place definitely is falling apart. I have yet to write a letter to send to them, but IF they are interested in selling, what are the basic steps to get the property under contract? I know the benefits of wholesaling can be low risk and even low money down but what exactly is needed on the financial front to lock the property up for a certain price? Earnest money? Down payment? I have a cash buyer in mind who would more than likely jump on this deal if the numbers checked out. Any help would be greatly appreciated. This would be my first deal and I learn best by doing, so I would love to dive in. Thanks in advance!

[Luke H.]

here is what I would do. walk up, knock, if they are the owners, ask if they are willing to sale. if yes, come up with a price and sign a contract (plenty on google). then shop the deal around. if not owners, ask for owners info. start at top of paragraph. 

in the contract have a clause that says if you don't find financing in 30 days you don't have to buy it. give $$10-$100 earnest money so they know you are serious.

be ready with paperwork and numbers in hand when you walk up. do me a favor and take action. thanks