Hi Melissa: a lot of times the listing agent would post a super low listing price on a property, to lure in an offer. the reason is that, as soon as they have an offer, they can submit it to the bank and start the short sale process. He/she thinks that they most likely will lose the 1st buyer due to the amount of time it takes to get the short sale approved anyways. So after 1,2,3,4, months of waiting and they finally found out how much the bank is willing to accept, they'll then market it at the "approved" price. It's truly a dirty strategy in my opinion, but I have encountered many listings that have unreasonably low listed price. I have to explain this to my clients each time. On top of that, many times these listings agents are not responsive because they are bombarded by so many questions or interest about their LOW listing price. Ultimately, the seller's bank will be the one to approve it and the bank will not approve the price if it's way below market value.