Meeting with motivated seller/ securing contract

[Terrance Merck]

i am scheduled to meet seller. He seems very motivated to sell. His asking price is $72000. He is willing to accept $59000 cash. The house is 3 bed 1 bath all brick 1789 sq. ft. Decent set up, needs $8000 to $20000 worth of work depending on what you want. Arv $105000-1200000. Home foreclosed and was purchased for 56000 in January. I'm looking to secure offer to buy contract. Any thoughts on how I should proceed?