wholesaling with mortgages

[Account Closed]

I'm almost putting a house under contract and eventually wholesaling it. The house is almost in foreclosure. it will be auctioned on June 5th. so i need to act swiftly.

The owner owes 96k on the house, which is the Principal amount, but when i told her to call her bank for total loan payoff on the house. it was 105k.

The house is ARV is worth 168k. doesn't need much repairs at all. about 5k repairs.

do i have to factor in the total payoff, or just the pricipal owed on the house which is 96k?

I'm looking to put it on contract for 110k and wholesale it for 115k.

I have been trying to market it though, i had an offer for 108k..

well explained replies will be very much appreciated. This is my first deal.