Talking with you agent that is representing is the first course of action that you should take. They can find out pertinent information for you regarding the the list price, offer price, comps, etc.
Just because you see on the internet that the home was listed previously for $149,900, doesn't mean a thing except that it was a previous asking price, nothing more. What does that mean? Sellers will sometimes list a home way under value if in a short sale situation to spark the interest of many buyers. Will it usually sell for a price that is substantially below market value? Typically not.
There are often times in a short sale situation where a bank will come back with a price that they approve and will be higher than the previous list price. The listing agent may have adjusted the for this reason. Another reason may be that it is now listed as a bank owned property or private sale and not a short sale, therefore a new owner and new situation commanding a different list price.
As for your inspection, consult with your agent about your situation and figure out what your course of action should be.