A bid isnt all about price, it also has to do with terms. Such as cash vs mortgage, amount being put down such as 5% vs 25% down, amount of depoosit $1000 vs $5000 and also contingincies, such as subject to home inspection, reviewing documents, a house to sell and last closing date, how quick can one close. All those are taken into consideration when evaluating offers. They like to see at least 1% of the sales price as initial deposit. Did you have an attorney or a buyer broker assiting you. either would be of great assitance in guiding you when making an offer.