How to Wholesale a House with mortgage owed on it?

[Mahan Shahverdi]

Hey, This my first time starting a discussion and I would appreciate it if you guys share your experience and knowledge.

I recently received a lead from Craigslist and the seller is motivated to sell because he has to relocated to another state. I am a new wholesaler and I ve done 4 deals so far. But I ve never had any experience wholesaling a house with mortgage owed on it. He owes 167K on the house.

Bedrooms: 4 | Bathrooms: 3 | Finished sq ft: 1,764  | Lot size sq ft: 11,775 | Year built: 1952 
Tax assessment: $167,100 | Last sold date: 08/22/2007 | Last sold price: $195,000.