the list price is low because this is a short sale, or pre foreclosure and those types of properties are usually priced very aggressivly to sell them quickly. I actually had a seller in the same position (home not listed yet) as you that wanted to see this very same property. It really made no sense because the lenders who own these homes need to sell them very quickly and will very rarely take a contract that is contingent on a home sale. Good luck and please keep me posted if there is any way I can be of assistance. Thanks!