Help! (loan, house, inspection)

[shermeril]

I have a question for realtors (or anybody) who may know the answer to this:

I bid on a home a few months ago. The listing price was $160,000. I bid $149,000. I was told that even though the house had been on the market for over a year, there suddenly was another offer. The selling agent stated that he would take both mine and the other bid to the homeowner. I was soon told that the owner was going to deal solely with the other offer, which I assumed must have been significantly higher than my offer of $149,000. I later read online that the house sold for a mere $145,000, which is $4,000 LOWER than my original bid. Is something like this even possible without my being allowed to re-bid?

Thanks,
Joe

[ccjarider]

yes, no one has to sell to a specific person.

The other party could have been a family member or friend, they could have had no contingencies or a better chance at getting a loan or some other reason. Perhaps there was some unethical behavior but it will be very hard to find out.

[jessiegirl_98]

Could have also been all cash..... you really just never know what happened. And, again, as cc suggested, it could have been someone they knew. They also could have accepted a higher offer (such as 150K), but then after inspection had to negiotate the price down.... You just never know!