We were caught in a bidding war over the past few weeks, found out last week that our offer had been accepted and we were delighted. So we've spent the last week getting our letter of offer issued, getting our solicitor in contact with the auctioneer, putting down the deposit etc. Auctioneer emailed us a receipt and told us the house was now off the market and we were sale agreed.
Got a phone call last night to say the underbidder had a change of heart, went and drove to the sellers house and made them an offer of 10k more. So the seller has decided to go with them- even though they're not even mortgage approved yet. We're not in a position to offer anymore at the moment unfortunately, plus the house really isn't worth another 20k.
Is there anything at all we can do in this position? Or is it just take the deposit back and get over it?