Something fishy or jackpot?

[Tyler O'Malley]

I recently received an inquiry into a yellow letter I had sent. The ARV is a solid 185k-200k, and the woman said it needs plumbing work and electrical work. She said she received an offer that she turned down, so naturally I got this number out of her before shooting out my offer. The offer was 13,000. She countered at 14,000 and they denied. I can't put together why this is the case. I offered her 14,000 and she tentatively accepted it while I do some more research. The house sits on a 10,000 sq ft lot, so I don't understand why the asking price is so low. What am I missing? Thanks guys.