Wholesaleing logistics

[Mike Thoms]

Could someone walk me through the steps of a typical wholesale deal. I know I would sign a purchase agreement with the seller. Then when I locate a buyer I'm trying to figure out my next steps to assure everything goes smooth. I'm assuming I would send the buyer a copy of the contract and also an assignment agreement for him to sign. Then when he signs and sends the assignment agreement back to me I take it and the original purchase agreement to the closing attorney. In the mean time the buyer would send his funds to the closing attorney. Is this right so far or have i gotten something out of order. I'm also assuming that you would probably need to have the buyer send in a separate nonrefundable deposit check made out to you to be sure they are serious about buying the house. So if they flake you would at least have that part of the assignment fee. Is this the way you guys handle the logistics?