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Increased price on MLS after accepting offer

On the market for a house. Been looking for about 4 months now. We put an offer in on a home 10k above asking. Seller’s agent told us that they had 5 offers and sent out a simultaneous multiple counter offer that was 40k more than listing price (30k more than our initial offer.) We countered back 10k above that. Today, the sellers agent told us that they accepted an offer with a 50% down payment even though we were the highest offer. We can’t compete with that so we happily accepted to be the back up offer.

We got a notification in our email that they increased the price of the house on MLS to what we offered. The status on the house did change to pending.

My question is why do they change the price on the MLS after they already accepted an offer? If we are the back up offer, could they still field other offers and accept those instead?

I hate that I got emotional over this but I really wanted that house!

submitted by /u/Kmkmojo
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source https://www.reddit.com/r/RealEstate/comments/cxbszm/increased_price_on_mls_after_accepting_offer/
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