Does this sound right?

[Brad W]

REO property listed at 112k. Place needs some work, nothing too major.

Working directly with seller's agent.

House has been on the market for only a couple days.
Initial conversations with agent is guiding me to offer over asking price, with supportive reasoning. Also tells me there is other interest and that pricing is done under market value on purpose.

A few days go buy and I take no action.

I call to make an offer. Sellers agent tells me that's there's another offer on the table and wants to know what I'm going to offer so I don't waste anyone's time. I say 102k. Agent says that's near the other offer and to expect a multiple offer disclosure and be ready to give best offer, with POF. I sign it and send the requested docs.

Next agent tells me that other offer is over asking price but can't say exactly how much. I offer 114.5. Cash, no continginces. Agent says that's good. Next day I get a call saying it's accepted.

Does this sound like a typical/atypical negotiation?