County Auction deal... what's going on here?

[Chris Mart]

There is a house up for county auction and while I've never bought a home this way I am curious as to how the process would work on one particular home that I'm having a hard time figuring out. I'm hoping if I paint the picture someone might be able to tell me whats going on with it, and if I could make a move on it. Really more for curiosity and knowledge, but at the same time if I can buy a half million dollar home for 5k for my family it's a Christmas Miracle....

House is in a HOA residential neighborhood.

Property App. market Value: $460,000

Plaintiff Max bid: $5,000

Final Judgment Amount: $5,000

Plaintiff is the HOA, Defendant is a husband and wife.

House has a 2007 Warranty Deed for $650,000 with the builder. There is a indenture made from the builder granting the land parcel to the husband and wife for $10.00

Then mid 2016 there is another indenture in consideration of $447,000 warranty deed, granting the property to what looks like a single family member of the same last name. Again with a $10.00 consideration.

All taxes are paid to date.

From what I can find, the builder went bankrupt in 2008.

The property is scheduled for auction in 2 days.

Any ideas what is going on here? Any opportunity? Should I just assume HOA will take it? Where's the mortgage, or where would I find it, because I don't see any like I do on the neighbors homes? What else should I be looking for?

Any help is genuinely appreciated. Thank you!