Wholesaling: Do they actually have the authority to sell?

[Rick Albert]

I was in discussion with a wholesaler about a property and it dawned on me, since he doesn't yet own the property, if I were to enter escrow, is it even binding?  For example, if we are under contract, could the wholesaler cancel the entire deal and I would have no recourse because he doesn't own the property to begin with?

Just wanted to get everyone's thoughts.  I would imagine it all depends on what is in the contract.

Thanks!