Question 1 of 5
In a typical assignment, who usually closes directly with the original seller?
Why: In a common assignment structure, the wholesaler transfers eligible contractual rights and the end buyer becomes the buyer who closes with the seller.
Question 2 of 5
What is the biggest structural difference between an assignment and a double close?
Why: A double close involves an AB purchase and a separate BC resale. The wholesaler takes title between the two transactions.
Question 3 of 5
If the BC price is $250,000 and the AB price is $220,000, what is the gross spread before costs?
Why: $250,000 minus $220,000 equals a $30,000 gross spread. Gross spread is not the same as net profit.
Question 4 of 5
Why does the EMD refundability deadline matter?
Why: Once a deposit becomes non-refundable, the buyer may have more money at risk if the transaction does not close.
Question 5 of 5
Which is a cleaner habit for a wholesaler?
Why: Early title coordination gives the closing team time to understand the contracts, funding, sequencing, and any issues before closing day.
These quizzes are educational, not a substitute for legal, tax, lending, appraisal, or investment advice.