Foreclosure Going to Auction but Owner willing to Sell to me

[Cody DeLong]

I need some advice ASAP.  I made contact with the owner of a house that is going into foreclosure over a $10,000 Mortgage.  The lady is disabled, does not have any money besides what the state gives her, and cannot afford a loan at all.  The current payoff after fees and taxes are $23,000.  The land alone is worth $100k in my town, not to mention the structure which does need a full gut.  I will say I'm dealing with an older lady who does not know much about whats going on except that she is losing her house.  She has agreed verbally to selling me her house for pay off plus $10,000 extra to help her start over in an apartment or she may go and live with her daughter.  

What do I need her to do and what do I need to do in order to get this deal closed? Should I get her a contract to sign?  If so does anyone have one I could use?

  I know I need to do a title search and she must call the bank.  What should she ask when she calls specifically? Should I have my title company reach out to her bank?  I'm going to have to walk her through this and deff drive her to the title company myself for anything as she cannot drive.  Please let me know what ya'll think!