Scary low prices?

[Micheal Waldrup]

Just an example to see here if you want to look:

http://www.auction.com/Virginia/residential-auctio...

Something like this to me seems just scary low. The price makes me think there's a hidden hang-up with the property somewhere. 

 I see it's been listed for around 9 months, is in a decent area close to some slightly better than average schools. 

Any tips on better educating myself on properties like these?

Also, anyone have knowledge on what this is? (from Auction.com transaction details)

• A Buyer's Premium equal to 5% of the Winning Bid Amount or $2,500 (whichever is greater) will be added to all Winning Bid Amounts to determine the Total Purchase Price.