Involved in trying to purchase a short sale. Made offer, seller accepted, bank did a counter offer and then Bank of America negotiator accepted our terms. Went for final approval from investor.

Next call . . . sorry, house sold on the auction block yesterday for 25k less than what you were offering.

Anyone have any feedback on this?

That is why we always monitor the Trustee sale website. If you are close on the Short Sale they will sometimes pull it from the trustee sale.

I get a few REO listing every month that are in the middle of a short sale. Hard to figure out exactly why, but my guess would tie into Grampa's answer. The left hand doesn't know what the right hand is doing. The left (SS) needs monitors the right (REO) since the left has the most to lose.