Wholesale deal concerns

[Lindsey Kocher]

I'm looking at a property in pre-foreclosure and the website listing the information indicates that the amount defaulted is ~$400k, which is higher end of entire value of this 3/1.5, 1600 sq ft home near a university. As an investor, would I be responsible for covering that entire lien in order to purchase or should only offer the typical 70% of ARV - rehab?