Walk through of wholesale process?

[Mohammad Haidarasl]

In general this is my understanding of the wholesale process, feel free to correct.

1) Get property under contract with seller.

2) Take contract to title company.

3) Find buyer, (give them copy of my contract I signed with seller, then fill a copy  of the EXACT same contract between myself and the buyer)

4) Collect non-refundable deposit from buyer and take that deposit as an earnest money deposit to the title company alongside the end buyers signed contract.

5) Wait for closing and collect wholesale assignment fee

Anything I'm missing? And by the way, is a $500 non-refundable fee fine to present to the end buyer? Considering you will deduct this amount from the wholesale assignment fee you will be collecting?