The purchase agreement says bidding a quit claim. Don't know about where you live but think this is basically worthless where I live. You are basically buying the mortgage company's mortgage claim. Since the owner isn't paying that anyways, then you must be___. They should not be allowed to list on real-estate sites unless they are selling actual real-estate. They are selling encumbrances or such from what I can tell. I am not a lawyer but this is my understanding.
It would be better for them to clearly state what they are doing.