Deal Structuring help, please!

[Tracye Bynum]

I have a seller that is nearly about to go info foreclosure, he just want to get rid of the home. I have the appraisal which was done in March 07, for 1.2million, he is behind 3 months on the mortgage, mortgage payment is 8800 per month, I want flip the deal quickly, already have a buyer looking at the deal (which he has a line of credit or cash.) The seller only wants 10grand for moving expenses, so what shall I do, should I send the seller a contract for 60% of ARV, because the end buyer has already agreed to buy it at 80% ARV, so how do I structure this deal, so I can make a profit? Are you happy Joshua?