Making an offer to the owner on a pre-foreclosure

[BrannDon Albert]

I think this might be a relatively basic question, so please forgive my naivete if that is the case. So I can see on Zillow the loan amount for the most recent time a home was purchased (in this case $371k). I can also see that the lender has been served a notice of default. The Zestimate for this property***** (<-- those are my grains of salt that I take with any Zestimate) is ~$480k (IOW, a difference of over $100k). 

Here's me question. This person is obviously in financial straits given they are in default. Is it reasonable for me to think that I could try to get in contact with this person and make them an offer for say $390k, which satisfies their note but is still WELL below the market value of the home itself? Is that a jerk move on my part? Do I not care if it's a jerk move because the might just accept and, condition dependent, I would have ~$60-80k in after rehab equity on the property??