Closing a wholesale deal

[Lucas Gibson]

Hi everyone, Can anyone address if the proper process to close on a wholesale is to: 1) have seller sign letter of intent (LOI) to get under contract. Does there need to be some sort of exchange of money here to make document legal? 2)have seller sign option to purchase 3)have buyer sign assignment contract with finders fee. 4) ??? What is the purpose of a title company for simple wholesale deals? I hope someone can shed some further light for me. Thanks in advance everybody.