FRIDIE MAC Madness

[Joshua D.]

So my wife and I have had our eye on a forclosure up the street, two weeks ago they reduced the price to 59,000 from 69,000. We though hmmmm... We better go look again. 

We did and decided to put in an offer on Monday for 49,000. The responded with full price of 59,000

We put in another the next day for 51,500. The responded with a full price of 59,000

After seeing a lot of people looking at it we got antsy and put in an offer at 56,500 they responded with a full price of 59,000

All good so far right!  Nothing weird... 

12 hours later on Friday they reduced the price to 49,000... What the?!?!? 

Thursday they decline our offer of 56,500, Friday we get it under contract for 49,000. Is this normal for these morgatage giants? What is the deal? 

Moral of the story?