Need advice on max offer for a 2/2 in Texas

[Kenneth Littrell]

I have only been doing this for 2 weeks and I've already got some great leads. I am preparing 2 seperate offers this week, but I need some advice on one of the properties.

Details:

* 2bed/ 2 bath on a 1 acre in Waco, TX.

* Built 1959

* Listed with a realtor for 79k and has been on the market for over 60 days.

* The owner owes 22k and is three months in arrears.

In livable condition "as is". Minor repairs would include replacing screens, some paint, etc. Has an attached metal carport and metal covering on back porch. Has 3 storage sheds, hay barn, horse stalls, and a playhouse. Has 4 pecan trees on property.

The owner contacted me wanting to get out of the property by 7 June because he already has an appartment with the lease starting on that date.

Here's the rub. The realtor placed it on the market at 79k, the tax assesor places the value at 73k and comparable sales on Trulia place the comps at around 53k.

I am place the comps between 57-63k. I believe the house is already in livable condition but subtracted 10k for updates and repairs someone may wish to make, and I used the standard *.70 calculation for wholesale deals. With a minor 2k fee I place the max offer at 27.9.

Considering the seller has this thing on the market at 79k (I believe this is WAY to high to actually sell) he will probably think I'm nuts, but might just be motivated enough to part with it. I offered him 25k to start (3k more than what he owes).

The unknown factor for me is what do I do with the Realtor? Thoughts? Be gentle it's my first go at this lol.