Buy a $368,854 condo for $40,784.25 on auction?

[Collin Emerson Miller]

Hey BP community!  I wanted to get some opinions on a property for sale on an auction:

Here are the property specs:

Zestimate: $368,854

2 beds 3 baths 10,60 sqft

Location: Duarte, CA

The amount of secured indebtedness with interest and costs is
$ 40,784.25
(Amount subject to revision)

This seems too good to be true... buy a $350,000 condo for $40,784.25?  What am I missing here?  Are there any extra payments I should be aware of?  I have never bought a foreclosure before so I don't know if this is normal or not.  If you need more info, let me know.

[Ryan M.]

@Collin Emerson Miller With that small of a mortgage relative to its value, it probably will get worked out before auction. If it does make it to auction, it will get bid up to its value. You aren't going to be the only bidder at an auction with those kinds of numbers.