Now, Buyer B can purchase the property directly from the Seller as per the original terms of the Purchase Agreement. Wholesale Real Estate Contract: Step by Step. 1. Find a seller. The first step in a wholesale real estate contract is finding a motivated seller, who is willing to sell under market value. It goes without saying that the lower the price you negotiate with the seller, the larger the lump sum profit for you. Common Wholesale Real Estate Assignment Contract Misconceptions Both assignment of contract and double closing procedures have become the center of a huge debate. Perhaps even more specifically, there is a wild misconception that each of these strategies are illegal, or that the investor is an unlicensed individual acting as an agent. A wholesaler is in charge of mediating between the sellers and the buyers. For example, in real estate, wholesalers will have a contract with the seller, market to possible buyers, and then give the contract to a buyer. Wholesaling is also called contract assignment for this reason,