Need help understanding this lost HUD bid.....

[Tyler H.]

So last November I submitted an offer for a client on a HUD home, during initial owner occupied period. The home was listed @ $200K. Our submitted NET offer was slightly above asking price (conventional financing).... We received a highest and best, in which my buyer raised to $15K over asking. We did not win.....

I just stumbled across the sales history and what do you know? It was sold for asking price, $200K!!!

So who has any ideas? From what I have read, HUD will go with the highest NET.

Only 2 things I could observe, from outside, was;
1. HUD agent double ended deal... Would love to think this wasn't the deciding factor.... But hey it is money!
2. Accepted offer was Cash..... Would make sense (maybe, 15K!) for a private seller, but is contrary to what I have read about how the HUD process is supposed to work.

Looking for any ideas or suggestions,...