Wholesaling a Pre-Foreclosure

[Daniel I.]

I have a motivated seller who inherited a townhome. It has since gone into pre-foreclosure. There was $49k left on the mortgage and she just heard from the bank that the lowest they'd settle for is $28k. How would I go about getting this under contract and still getting the bank to accept $28k? If she sells it, would the bank then try and get the $49k balance instead?

There's definitely a potential deal here since the property's ARV is probably around $70k, I'm just not certain of how I'd go about getting this done. If any seasoned wholesalers or investors had any advice, it'd be greatly appreciated!

The other caveat is there are tenants living there who are not paying rent and haven't signed a lease. Apparently a lot of drama with them. Would it be best to try and do cash for keys after purchase? Am I able to evict them without a lease in place?