Finder fee and assignment of contract are basically 2 categories of wholesaling.  A licensed agent cannot pay a non licensed person a finders fee.  An assignment of contract is when the buyer is buying the property with the intention of selling it to another buyer usually at a higher price prior to the transfer of title.  The original buyer is still responsible if the assignee does not perform.

Those are two different animals, Paul. Finder's fees were common long before I started in real estate but are mostly illegal now. Any fee can only be paid to a licensed professional now. Assignment of contract is still done regularly and is not only for wholesaling though it is rarely done in other circumstances. Richard Weeks' definition of it is correct. I've been involve in many of these, mostly used by investors who are quickly flipping properties. 

For the one counting the money after they left the bank? No difference lol

Is this a trick question? In 25 years in real estate have never dealt with either.

This must be local lingo...

My investor clients use both of these techniques. The finder fee is use to pass on a solid lead or property that is not under contract yet. The fee is usually much smaller than the assignement fee. The assignment contract means the it is under contract and the deal is done but the investor can inflate the price, take a fee and pass on the contract. in some situations the finder fee term may be used in both cases.

I wasn't sure about assignment contract (not something I have even been involved with), but it was helpful to read this. I would defer to Richard Weeks 

They are completely different.

Se Richard Weeks answer.  He is right on!

Paul Savola Real Estate SEO The biggest difference is that it is illegal to pay bird dog or finder's fees to an unlicensed person.

Richard Weeks has the answers.

A finders fee is like a referral fee.

I can remember when local banks would pay a finders fee for sending mortgage customers to them after a deal went together....and that was just ending as I began my real estate career!!  

an assignment contract?  that must be a referral directed to a specific agent with a negotiated fee?  I've not heard that teram "assignment contract"..... finders fee was always on a hand shake....the good old days.... 

Richard Weeks has a great answer.

Richard has the best answer!

Look at the terms of the agreement.

I have not dealt with it.

Richard Weeks nailed this one!

Two different things.  

     I can assign you my contract (although I may still bear ultimate responsibilty, depending upon how the contract is worded).   You take it to Closing, you become the Buyer/Owner.

   Finder's Fees aka Bird Dog Fees are illegal in almost every state, except to licensed Real Estate Brokers.

Assignment contract