[quote=urbanrealtor]. . . I am curious how they got the place for $480k to begin with.

That seems really low.

That is the only part that seems funky to me here.[/quote]

UR, did you consider that the transaction could have been among relatives? As you know, “name” doesn’t mean anything. I haven’t seen the inside but the most recent sellers may have also replaced all the dryrotted walls, roof, cabinets, etc. IOW, they purchased it as a “moderate or heavy fixer.”