Auction question California
We were successful bidding on a property at the ushomeauction this apst week. The bidding started at 19k and our winning bid was 65k. We received a email the same evening with the following message: "I have attached a copy of the purchase agreement and preliminary title report for the above property which sold at the REDC auction. ***Please note that the winning bid did not meet the seller’s reserve price, therefore the property was sold subject to seller’s approval. We will notify you immediately upon our receipt of seller’s determination to accept or reject the offer.***
Why after having won the bid would they send us this notification?