What's the flow of a wholesale assignment, offer through closing?

[Brad Martindale]

I want to understand the assignment process end to end including what gets signed by who and when.

A few points of concern that I hope to feel better about after understanding the process better:

Does the seller have visibility to my "finders fee (profit)" at closing? I could imagine it being a little uncomfortable sitting across from a seller at closing with them finding out their end buyer is actually paying $5K more than they're getting and that money is going to me!

Does the buyer have visibility? I'm not as concerned about this as I plan to target buyers who appreciate the level of time and effort I'll put into finding profitable deals. It will still be nice to know who sees what when to better control expectations throughout the process.

I know I could avoid all of this by double closing. That seems really complicated and risky to me though. I'll probably throw out a similar question as this for double closing but maybe we could get into that here too.

[Chris Piper]

@Brad Martindale So here is the process breakdown for you:

1. You find a motivated seller, you run the numbers to see if it's a good deal or not. If it is a good deal, then you make them an offer. If they accept, then you both sign the purchase agreement. Your purchase agreement needs to explicitly state that this contract may be assigned.

2. You find a cash buyer willing to pay you more than you paid. You guys both sign the assignment agreement, and you collect a non-refundable deposit from the cash buyer.

3. Submit all the docs to your title company and let them know you're doing an assignment.

4. You close and get paid. Pretty simple.