In most cases it's a conversation, not a contract. "Securing the buyer" means you've spoken to an active cash buyer, written down their buy box, and confirmed they're currently purchasing. A buy box is just their list of criteria: which zip codes, what price range, what condition they'll take, minimum bedrooms, whether they want rentals or flips, and how they pay. Some wholesalers have buyers sign a simple non-binding letter of intent or a buyer agreement, but those rarely force anyone to close.
So yes, a buyer can still pass. What changes is the odds. If a buyer told you they want three-bed houses in two named zips at 70 percent of resale value minus repairs, and you bring exactly that, the chance of a no is much smaller than pitching a random contract to strangers.
The part that protects you regardless is your contract with the seller. Your purchase agreement should have an inspection or due diligence period that lets you cancel and get your deposit back if you can't close. That's your exit if the buyer walks. Read that clause carefully before you sign anything, and have a real estate attorney in your state look at your first one, because what's enforceable varies by state.
One thing worth doing early: ask a buyer how many properties they bought in the last twelve months. Plenty of people will describe a beautiful buy box and then never buy anything. Verified demand means someone who's actually closing, not someone who says they're looking.
