Should I give up on the $5K assignment fee?

[Moses Brach]

I need advice on my recent trouble I’m having with a wholesaler. As I am new to REI, I moved quickly on what seemed to be a good deal in Ladson, SC, that was being marketed by a wholesaler who, over the phone, seemed like a great guy. It turns out that he’s anything but that. As it turns out, the seller of the home never actually held a title to this home, which basically means that this wholesaler has no house to sell. It seems like he was aware of it, but of course did not disclose any of that, because why be honest, right? On the assignment contract that I signed, which I sadly did not fully understand that ramifications of, I committed to a $5K non-refundable assignment fee. My first thought was that I can just kiss it good bye, but then I started thinking about the fact the he had nothing to sell, and it’s potentially just fraud. I’m wondering if I would just loose way more money assuming fees, my time, etc, if I have to start going through the judicial process. Any advice from the community would be highly appreciated!!