Here are the only versions of that I have seen.
Your example might be different but this is my experience(s).
I have seen a bunch of places go for more than asking or more than upper end of the range recently.
Usually its an reo that was deliberately under priced by the bank or a short that had a super-low sticker price to attract buyers (and then had a bidding war).
During the boom this was usually a sign of either irrational buyer exuberance or straw buyers pretending to be irrationally exuberant.
The straw buyers buy at 100% (or as close as possible) for over asking and get a fat rebate back and then never make a payment. The rebate is the bounty. These days, most straw-buyer crews are mobbed up (according to my friend working with the DOJ).
