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How long to wait/ how to avoid getting into a bidding war

mmcupcake
Posts: 1 Newbie
I am a first time buyer and as such was nervous about putting in an offer, especially on a reposition but fell in love with a house which would give us everything we wanted. We put in an offer to be told they had accepted an offer £1000 more then us but that since it was still under the asking price and had only been accepted that day a slightly higher offer given our strong position as cash buyers would secure it so we put in our best and final offer. That was a week ago now and the agents can't get a straight answer from the mortgage company who are selling it. How long should I wait to hear back? Am I wrong to think the company are trying to start a bidding war between us and the other buyer?
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Generally, it can result in a bidding war until one backs down with a reposession. If you don't want to get into a bidding war, don't buy a repo. You could probably still get outbid later on down the line by yet another party - until they put a date on it. That could be weeks away yet.
Keep your eye on the rest of the market.
Jx2024 wins: *must start comping again!*0
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