What are the mechanics of a wholesale deal?

[David Grimm]

I've looked all around BP and have read a LOT about wholesaling. I understand the principle strategy to be the following:

Buy a house on the cheap, then immediately turn around and sell it to someone who has the time/money/experience to renovate and flip/rent it.

What I don't understand and have had a very hard time learning about is actually how to do this. I've read about title companies, real estate attorneys, and banks being involved, but really, where do you go once you have a good deal and a buyer who you know can buy it?

I'd love an example, if someone could provide it. Let's say I find a house I can buy for 100,000 and I know someone who will (and can) buy it for 103,000. What's the process? Where do I go? What paperwork do I need and where do I get it? How much money will I need, etc.

Thanks!