Pre Foreclosure short sale

[Jack Clough]

BP folks - Need some advice here on a pre foreclosure deal. The owner's house is set for auction in a few weeks and I'm their last hope of keeping a foreclosure off their credit. They owe 150k. I'm planning on bringing a purchase agreement that we can sign and use to show the bank that they are under contract and ask for approval of the sale. I would be offering less than what is owed but all cash, no contingencies, as is, and close in 1 week. 

Does this make sense? And how do I legally pay the seller the 5k he needs to move on? Do I just put a credit to the seller in the contract? I feel like the bank would say "no" to the seller credit.