Making an Offer

Ok, here is the situation I have. I have found a property in foreclosure. My agent has pulled comps on it and based on the comps that he pulled the property is worth approximately 116k, based on what has sold in this particular area. The property is currently listed for 71k. Now the property does need quite a bit of work. I would approximate about 20-30k. I want to make an offer for 28k. This would allow me to make a profit of 10k (sell to an end buyer for 38k) after he rehabs he will have 68k into it and if he sells it for 100k (below market value based on comps) he would make 32k profit. Now my question is, does this offer make sense from a numbers perspective? Since it is a foreclosure the bank would have to agree, which is a long shot, but from what I have learned from Dean, you never know until you ask! Also, I would want to explain my offer to the agent that has the listing so would I go into this much detail and disclose to him how much money I would be making on the deal? I want to validate a low offer like this. What do you guys think?

Thanks,

Mark