Wholesale Contracts.. protecting myself

[Haider Zaman]

Hey everyone,

I had a question (which will show just exactly how green I am to all this) regarding contracts.  If i have a property in contract and I begin looking for buyers.. what happens if I am unable to find one?  Does the wholesaler risk having to purchase the property him/herself?

Or are there certain clauses within a standard contract that says the property would revert back to the seller after "x" amount of time?

Any guidance on this would be much appreciated.  Thank you!

[Russell Ponce]

The clause I like is "this agreement is contingent upon the buyer's approval of the property," we never want to back out of deal but you might have to say "after closer inspection we just cant purchase the property for more than $------ because the repair estimate is higher than I predicted"