This happens all the time. Of the two offers, the listing agent & seller sellected the other offer. Then something happened and they decided not to proceed with the purchase. The seller has now lost valuable time and is hoping to get you to renew your offer and proceed to closing. That may give you some bargaining power.
This happened to one of my clients. They ended up purchasing the home for less than their original offer and on better terms for them. The seller was willing to move forward at these new terms, as my clients were ready to close quickly.
If you still have an interest in that house, talk it over with your agent and figure out how you want to proceed. On the other hand, if you have already found a home you like, then just tell the listing agent "thanks, but no thanks" and move forward with the sure thing.
Good luck and Dare to Dream.
Shel-lee Davis, QSCÂ®
Certified Distressed Property Expert â€“ CDPEÂ®
Short Sale & Foreclosure Resource â€“ SFRÂ®
Certified HAFA Specialist â€“ CHSÂ®
Your Real Estate Consultant for Life
RE/MAX Palos Verdes Realty