The person who put in the bid may be an investor who’s looking to flip. They only have to be successful one time to make it worth their while to put in these types of bids.

In my experience, if there is any mention of a seller needing to sell mentioned in an MLS listing the seller can expect bids like this. Putting the terms “foreclosure”, “short sale” or “bank owned” in an MLS listing is like advertising for a discounted sale price.