Listing price on house dropped 10k after i won auction

[Alex M.]

The house was listed on mls for 139k went to auction and i won auction at 131k but auction house charges 5% (6.5k) but didnt meet the reserve price. So they reached out at said the will consider and review my offer and let me know in 10 business days. final will run 137.5 I was the only one to bid. About 5 business days in i looked at mls and they lowered listing price to 129.9. Should i pull my bid maybe i can get it out of auction and not have to pay extra 5%. Or have to rebid. Or just bite bullet and get the house for what i bid

[Tom Gimer]

Back when I worked in the auction industry we used this exact language in MLS listings: The list price shown is for auction purposes only and is not an indication of value.

Here the auction company is attempting to generate interest and create a competitive post-auction offer scenario (guess who they want to see bump up their offer). And don't be confused, your bid has not been accepted and it likely won't be... so you can't just "get the house" for what you bid.