Assignment of Contract (Weird Situation)

[Cory A Hall]

Hello everyone!

So I've been wholesaling for about 6 months now, but I've never experienced a deal quite like this. I got the property under contract for $58K, and the seller still owes a mortgage of about $54K. She really just wants to get rid of it, as it was inherited, and she doesn't want a second mortgage payment. There is also a $3,000 lien that was placed against the property from not paying off a credit card, I believe. I found a buyer, but he wants to assume the existing mortgage loan and keep it as a rental property. I guess my question is how would this work? The bank said that the mortgage is assumable. Would I just send the buyer an Assignment of Contract with all the terms that he and I agreed to, and have him pay me a flat fee up-front or maybe when the assumption process is complete? As well, the lien would need to be taken care of beforehand, right? Or would it be possible for the buyer to wrap this into the mortgage balance? I really appreciate any help with this. 

Thanks a lot!