Property not free and clear but has good equity

[Kevin Burton]

Im in the process of negotiating a wholesale deal . the property is worth 65K, the owner owes 27k, he wants 40k but im going to try to get him to 35k. ive never closed a deal that was not free and clear. and im kind of unclear on how im suppose to construct this deal. i know i have to have a letter of authorization to communicate with the bank but how do i structure the deal(contract) itself? please help. im suppose to call him back around lunch time today . im lost . thanks for helping in advance....oh yeah the house is move in ready. new carpet,paint, hvac,10 year old roof,plumbing,electric,hes just tired of being a landlord