Wholesaling a pre-foreclosure

[Jorge Caicedo]

When trying to wholesale a pre-foreclosure,is it possible to offer a seller who's in pre-foreclosure the equity in their home and then use that as the offer? If so, when the contract is assigned, what should the assignment fe be based on? Should it be based on the FMV of the house? I ask only b/c if there are people making $50k on up doing wholesaling, they must be doing a similar approach. Some sites allude to this so figured that's what they're doing. Any advice is appreciated