not exactly sure if this is a reo sale or what? Answers please

[Joshua D.]

So we just purchased a house and we were talking to neighbors around the neighborhood. We heard about a house 2 houses down has been sitting vacant for 3 years. Bought for $99,000 in 2007 and we had a hard time tracking the owner down but finally found that a agency owns it. They were asking $50,000 for it we did a inspection and obviously needs some work and the neighborhood is good we made a offer for $35,200 cash no contingencies and are attorney closing costs. they   accepted just never been through a sale like this. They said they are now sending us all the agreement forms in the mail and such. They said they were also trying to get rid of there inventory it was all winterized when we were there for the inspection nothing serious just a walk through with my handyman. Can someone maybe tell me more about what I'm dealing with? I believe it went through a sheriff sale and a foreclosure sale and didn't sale but I'm not exactly sure.