Buying wholesale property with a mortgage

[Jonathan Frausto]

Hello BP community

I have a question that I'm hoping someone with more wholesaling experience can answer for me

I am in the middle of the negotiating stage of buying my first wholesale property. (I'm buying the property to wholesale to another investor) I talked to the seller and found out the property has a mortgage for approx. $81k. Based on the ARV of $120k I wanted to give an offer for $70k all cash.

If the seller chooses to sell to me for $70k, who has to pay to full fill the mortgage for the remaining $11k? And do I need a copy of the most recent financial statement for the mortgage?

Thank you in advance for your time

Jonathan