Please help out a virgin a sheriff's auction

[Jim Keplinger]

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So here's the deal: The house next to mine is about to go up of for auction. The note owed is 132k, the min ask is 135k. Personally, I want it if only to control who moves in. THAT said, I have trouble believing I'm stuck with the asking price, but I don't know a thing about auctions in Indiana (!!!) and I'm not sure what the play here is. I know it has at least a 10k foundation issue...but it's a good piece of land in a desirable neighborhood with a silly growth curve (major teaching hospital being built nearby). SO! Here's the questions:

1. If I had to get this at the 135k is it still worth it?

2. Do Sherrif's auctions typically go under the min-ask price or is bound to go up from there?

The link to the calculator is below. Thoughts? 

*This link comes directly from our calculators, based on information input by the member who posted.