Real Estate Offer Advice (short sale, house, buyer)

[shastamila]

I recently put an offer on a house. It was listed pending because it had two(2) offers, however the first accepted offer pulled before closing..since listed pending my realtor contacted the Listing Agent & we were told it was a short sale, and we would be working with the Bank as well as the Buyer, didnt understand that but OK.. We did offer with 20% down, and bid low because we knew it was a short sale with items needing to be repaired from the original listing. We were then told that our offer was lower than a previous offer several weeks earlier but the listing agent would pass it on to the Bank. I was then given my earnest money back and was told that they(Buyer & Bank) went back to the 2nd offer(which also happened to be the listing agents offer) behind the busted offer(before mine)I was offered no negotiations or counter offers or highest and best, no chance to win the contract. I then start looking for another home, and low and behold the home is back on the market as Active and $5,000.00 higher.. What in the world??? is this unethical or is this a normal practice.. Should I call the Bank and let them know what is up with the Realtor that has there house listed? I would have thought I could have been given the option to raise my bid or counter offer or something...

[flyingcat2k]

You are expecting rational thoughts from bankers. If 2007 left us a lesson it is this, the mega-banks are run by drunken blithering idiots and the smaller ones are often no better. I'm sorry you got the runaround.