Will banks take a loss on a short sale?

[Jamie Nason]

I just found a 1BR 1BA 650 SF Condo in my area that is a short sale for $100k. Did some digging and 2BR 1BA 850 SF units in the same place are selling for around $120-140k in the past year. HOA fees are $350 a month and include heat. Taxes are $1100 a year.

I found it on Zillow and it said accepting offers until March 1st. Still no offers.

I looked up the owner and he died in 2018 so I am assuming that the family didn't make payments any longer or something like that. The post did say that the seller may be responsible for back taxes and HOA fees. I also looked up his mortgage and it looks like he took it out for $95k in 2007. Don't know the terms or down payment or anything but safely assuming $70k left on it if he didn't refinance.

My question is:

I have cash and am crunching the numbers to see if it's worth it but if he owes $70k and they have it listed for $100k, what are the chances I can come in with a $65-70k cash offer contingent on them paying HOA back fees and inspection/contractor walk through?

This would be my first property I h e ever bought and not sure what to do. Do I write up an offer based on a template? I don't know if I want to BRRRR or flip yet but I do want some advice from others that have experience in this area.

Rents are $1000-1200 but it’s an up an coming area and my friend who is a PM says he lists a rental and has 60-100 inquiries on the first day.

Any help is appreciated.