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Sorry you didn't get it :(
If the property doesn't get valued at the PP by the mortgage provider then the other buyer will have more funds available to cover the shortfall. -
EA was trying to get us to go with a similar thing when we sold. We deliberately went for the same offer value but the person with the lower deposit (20% vs 60%) because fuck giving a leg up to someone else just because they have more money.
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I missed out on about eight houses for this reason over the last year. It is frustrating. You will get the right place in the end.
pifko
stevo_com
deleted
@Sumo
Finally heard back from the EA/vendor for the house we offered 40k under the original asking. We didn't get it, but only because someone matched our offer and had a larger deposit. Apparently that means they're more likely to go through with the sale or some shit. Absolute tosh.