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On the property we are purchasing we had to bid above the asking price. We first bid at 95% and the bank did not respond to our offer. Meaning that there were higher bids. So our realtor had us submit another bid which we did at a price $5,000 higher than the asking price. We also submitted with the bid a loan pre-approval and a letter stating the reason for our purchase. |
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Once an offer has been verbally accepted can the seller change their mind and accept a higher offer |
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Two questions here. |