You don’t want to discuss any potential agreement with your wholesaling end buyer.
Basically, just cut a deal with the seller as if you are going to be the end buyer. Have the contract name as “MY name and/or assigns”. If the ask about that, tell them that you are an investor. You might well buy the house yourself but you have some other people who you often take in as partners to share the costs. So it is possible that the names on the buyers line could change before you close, depending on if you buy or have partners.
You really shouldn’t tell the seller about $5000 fees or anything else, you’ll confuse him and likely lose the sale.
When you find a buyer, then, you agree on a fee and do the assignment. Then it is a good idea to contact your seller, let them know that you are, indeed, bringing in a “business partner - their name is XXXXXXXX” but don’t worry, the paperwork will all be taken care of by the escrow people, you don’t have to do anything, everything will close fine.
That said - don’t abandon getting buyers. Having a good buyer’s list is incredibly important. the reason is, if you don’t have a buyer’s list, then when you get a property you will have to spend days and days trying to find a buyer and your entire deal is an iffy thing. Don’t just do adds, but visit REI clubs, call landlords (for rent signs) and bandit signs and tell them you are a wholesaler - ask them if they would be interested in seeing deals good deals on properties. Then ask them details about the types of properties they like to buy. Don’t get discouraged.
But I guarantee you, your success as a wholesaler will be defined much more by how good a buyer’s list you have, then how good a deal you find. You have to do both. In the market of 12 months ago you could just worry about getting deals because it would be easy to get a buyer if you found a deal. now however, there are lots more motivated sellers right now and lots more deals - but a lot fewer good buyers.
No Buyers - NO DEAL :flush
No Sellers - NO DEAL :flush
Seller+Buyer = DEAL!!! :beer