SDR, yes, it makes no sense. But the fact we knew are:
1. The home was foreclosed in Jan.
2. The home was listed as an REO in March and immediately went pending in a week.
3. The home was listed again in May and the description says that it is appraised at $33K higher than their original listing price so they now want $25K more.
The fact that an REO took 2 months to be back on market is also weird (normally they give buyer 30 days, right?) But I am the back-up offer on the original listing price. They ask me to raise the offering price by $25K and I refused so it is on market again right now.
I have done trying to make sense of this market long time ago.
