I'm not a real estate expert, but I'd have probably moved on this deal... Apparently I'm not either. I caught wind of this before it hit a Realtor and thought they were overpriced by about $100,000 so I passed. They hired a Realtor and got an extra $175,000 over what they wanted when they put the land out on bids. I think part of it was the total cost would have been my highest purchase to date by quite a bit so I was gunshy. Oh well, lesson learned.