BiggerPockets

If I use a flex option contract to sell another investor's property, find a buyer and assign the option. How do I get paid?
As soon as I assign, or at closing?

Non Exclusive meaning the seller (investor) can continue marketing the property. Hopefully it's just the original seller and I marketing the property. By offering the option this way, it is more easily acceptable.
Let's say for example, I find a property listed for sale at $150.000 that I think one of my buyers would be interested in. I offer the option to the seller, then market, or present the property to my buyer at $160.00 if there is room in the deal.
If my buyer wants the property, I would exercise my option and sign a purchase and sale agreement with the original seller.
Then assign the contract to my buyer for a $10,000 fee.
Is it a common practice to collect that fee immediately, or do I submit the original purchase agreement along with the assignment to the title company and let them handle it at closing?

Thanks Brian.
Do I have the correct process, in that once I find a buyer, I sign a P&S agreement with the seller, or should I assign the option?

James, I have found that back-to-back closings are the easiest way to close a deal and get paid without all the mess in the middle. Since FHA got rid of the 90 day flip rule and with today's market prices you are cheating yourself by assigning deals

Hello everyone, i'm new to the site so please excuse me if i answer something you may have answered months ago. In my deals as a flex option wholesaler, i collect my fee from the buyer and assign my rights to my agreed upon sale price to the end buyer for my fee. Example.

I flex optioned another wholesalers deal, he wanted 25,000 for the home,I simply marketed it for 35,000,the flex option stated the purchase price of $25,000. The buyer wanted to buy,I sold him my contract for $10,000 I Then Connected him to My Wholesaler Who Sold Him His Contract For The Original $25,000 They Closed And I Got My Cashiers Check From The Buyer At The Time Of Our Option Transfer.
Now While At This Point I Could Have Takin My Money And Walked Away And Forgot About The Whole Deal,My Practice Is To Stay In Contact With Both Parties Till They Close. My Reasoning Is, If I Sell My Contract To A Buyer For $10,000 And For Whatever Reason The Seller Or Contract Holder Does Not Perform, I Do Not Want My Buyer To Be Out Of His $10,000 With Nothing To Show For It. I Simply Cash My Check And Hold It Till I'm Sure They Closed The Deal, Only Then Will I Count The Money As My Own, It's A Good Practice To Do This As You Will Gain The Respect And Trust Of Your Buyers. And If You Just Take The Money And Run, And Said Seller Does Not Perform, It Will Most Likely Be The Last deal You Will Ever Get.