Newsflash: My Experience submitting an offer

Hi All, I’m sharing this as a bit of a vent and also just to give insight into the process we’re experiencing. Feel free to ask any questions, share advice, or just commiserate. Best!House listed at $590, we (and our realtor) think it’s underpriced by a decent bit and this was done to drive interest. 1) Selling agent said that offers were to be reviewed on Monday and We submitted a cash offer of $650 with no contingencies and had an escalation clause to $735k with an expiration for Tuesday afternoon. 2) On Tuesday we were told that we didn’t win, then were called later and told that the buyers with the winning contract were backing out. The sellers presented us with a counter offer of $7453) We asked to see the other offers which would have triggered our escalation clause. They shared the winning offer (that the buyers backed out of) and that was escalated to $745k. The next best offer had an escalation to $740 but did have financing and an appraisal contingency. The selling agent said the other buyers would be willing to waive the appraisal but the seller agent was not able to produce anything in writing. 4) the selling agent told us that the other buyers were ready to sign and to get our answer in that night. We resubmitted an offer at $600k (matching where the other two offers started) and escalation clause to $745 and expires the next morning at 10am. 5) no contact until after our offer expired, then the selling agent gave us a counteroffer of $735k. The seller agent said that there was another offer but was unable/unwilling to share a valid offer. The seller agent said the other buyers would be willing to waive appraisal but again, they were unable to produce anything (not even a non-expired contract)6) We instructed our agent that we would be sticking to our guns. We’d honor the offer/escalation we had submitted but they needed to produce this competing offer. And now we wait… Update 1: Seller agent sent over the competing offer. It’s the offer that expired yesterday and had a contingency for an appraisal. Selling agent said they didn’t want to reach back out to the other potential buyers to get anything in writing because it might be like “teasing” them and get their hopes up, but the seller agent promised that these other prospective buyers were still very interested and willing to waive appraisal etc. we submitted a new offer at $675 without any escalation clause that expires this evening.