VIC How to interpret this result?

I inspected a property on private sale and the agent said there was already an offer of X (within the asking price range).
I topped up with the amount of X+Y (now a bit beyond the asking price range).
The agent got back and said the other bidder offered X+Y+Z. Not so much difference, a few thousands. But my offer was unconditional, the other conditional. The agent said if I could increase my bid by a small margin, "it was yours".
I felt something not so right so I retracted the offer. A few days later, I found it was sold for X+Y (my offer price).
The question is: What is the likely explanation for this? Did the other bidder actually make X+Y+Z offer? Regardless of yes or no, why did it end up being sold at my offer price?

 

There are many possibilities. Likely ones:
1. The selling agent or vendor liked the other buyers more than you. Vendors sometimes sell for emotional reasons (ie to an OO rather than a PI because they will be living there not renting out)
2. The other buyers renegotiated the price down after a P&B report identified some issue/s.

 

Whilst your offer might be unconditional, you might still have chosen to cool off. The agent sometimes gets a vibe from someone they are likely to do that and would be wary of their offer accordingly.