Wholesale Buyers Earnest Money Agreement

It has come to my attention that bird-dogs and wholesalers are wasting their time with buyers that don't qualify or who aren't serious. Ergo, here is a contract that puts the buyer under contract to locate a specific property and give the bird-dog or wholesaler $500 to $1000 earnest money for finding the property.

WHOLESALE BUYERS EARNEST MONEY AGREEMENT
The undersigned hereby requests _________________________________ to locate and put under contract on my behalf, property following these guidelines: ____ Bedrooms, ____ Bathrooms, Square footage: _________, Price range: $ _____________, Area: ______________________________ Additional Criteria: _____________________________________________
A payment of $_______________ ($500 to $1000) for earnest money and expenses incurred prior to the closing has been made to:
Wholesaler: __________________________________________________
to initiate these tasks. If within three months an acceptable property has not been located, a full refund of the earnest money will be made. If two properties meeting the criteria outlined have been presented and have not been accepted, the money will be considered payment of expenses for services rendered to date.
Date _______________________ Buyer __________________________
Receipt of $________________ is acknowledged to be used for the purpose of obtaining investment property for the signatory above. If acceptable property is not found within a three month period the earnest money payment will be fully refunded. If two properties meeting the criteria outlined have been presented and have not been accepted, the money will be considered payment of expenses for services rendered to date.
Date: ______________ Buyer: _________________________________