Buying from online Actions

[Tim Silva]

My partner and I have recently bid on a home on  homesearch.com, We were the Highest bidder (@ 138,000) but the reserve was not met. I had previously bid on this house twice on the auction and saw it had met the reserve at 140,000 (which was my limit for the house) but went substantially higher before it closed.  We had received an Email from homesearch on the 9/24 (same day action ended) stating we were the highest bidder but did not meet reserve. We have called them and they informed us that they have sent the offer to the bank and are waiting for response. As of yet (10/07) we have heard nothing. Dose anyone have experience with this particular issue?