Earnest money on first deal

[Clay Walker]

I have a deal lined up right now where the seller is wanting earnest money today. I have a potential buyer for the property lined up already and whether I follow through on this deal or not is going to be contingent on if I can make the quick sale. This house needs zero work done to it so it's move in ready right now. My question is that of legality..... What do I need to do to make sure I can't be sued or have any other legal ramifications if my potential buyer doesn't follow through with the purchase and I back out of the deal? I'm not so much concerned about getting my earnest money back as I am the legal side of the transaction. Thanks!