What happens to Assignors original deposit?

[Maximo Cortese]

I’ve been looking for this answer online and can’t find it but it seems it should be a pretty easy question to find an answer.:

When a wholesaler gets a property under contact and in the event they are dealing with a savvy seller they are normally going to require earnest money. So the wholesaler would give the earnest money to whom ever is holding escrow.

Now the wholesaler shops the deal and finds an assignee. Great. The assignee pays an assignment fee and also a deposit.

So here is my question, in all of the assignment agreements I have looked up nothing is said about what happens with the original earnest money the wholesaler put down and where they are getting reimbursed.

Now I know a lot of wholesalers put little to nothing down on deals. However, let’s run this scenario, what if the original buyer was intending on closing on an expensive property and put an earnest money deposit of 30k, but then later realizes they have an opportunity to assign the contract for an assignment fee of 20k and rather do that.

Is it as simple as adding language to the assignment contract such as: Assignee will reimburse assignor any and all earnest money paid on sales contact at time of closing.

Or now that the assignee has been assigned the buyers position, who even is handling the closing should know now that this needs to be handled at closing…..(I don’t think this is the answer).