Assigning contracts

I'm trying to understand how to assign contracts. Once I'm in contract with my seller, and I find a willing buyer (say, willing to pay $5k more), how exactly do I "assign" the contract over to the new buyer?
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- The new buyer closes on the property, as opposed to me, right?
- By assigning, my name is never on the final title or contract, correct?
- Lastly, how and when do I get my $5k?
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Does anyone have or know of any sample assignment contracts?

I'm so confused . . .:crazed: . . . please help me out on this one.