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Buying Property Discussions about buying a house, such as flats, detached homes, and other housing.

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Old 06-24-2009, 10:50 AM
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Default higher bid or higher deposit to win house
i am interested in buying a house as first time buyer and am in a little bidding competition, but i have a 25% cash deposit to place down so do you think if i am not the highest bidder by a few hundred or £1000 that maybe the bank will accept my offer anyway because of the good cash deposit i am going to put down, the house is a repossesion, thanks
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Old 06-24-2009, 11:19 AM
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Hi, the other bidders for your property may also have large cash deposits or may even wish to buy the property outright for cash. Therefore, although you have done well with a 25% deposit it does not necessarily mean you will be better placed than other bidders.
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Old 06-24-2009, 03:47 PM
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yes but if they only have 10% deposit do you think the bank would go for the better bid or the better deposit, thanks
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