Buying directly from HOA

[Alexis Monroe]

good afternoon!

Has anyone ever bought a home directly from hoa?

Hoa foreclosed on this home for 5k. They put it for sale at foreclosure auction and it was sold to the hoa, plaintiff for $100.

I am now in negotiations with hoa attorney  to purchase the home directly From the hoa. It’s not listed on market. 

The ARV is 220k

1) does the mortgage stay with the home? A mortgage for 186k was taken out 3 yrs ago by previous owner.

2) where do I start my offer on this home? Should I offer the minimum hoa payments of 5k and purchase subject to mortgage payments? (Or did the mortgage Not survive) 

3) do I max offer 70% of ARV - repairs?

Of course I don’t want to offer too low but I’ve purchased properties directly from bank For literally the back taxes owed and assessed value. I want to know if anyone has purchased directly from hoa. What is the hoa really looking to get from the home. All Responses and opinions are welcome!