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Seller pushing back decision making on offer

We put an offer in on a condo at asking price the day after it was listed. They were making a decision the next day. We were working on getting our preapproval, but delayed because our loan officer was out of the office for two days.

The day of deciding on an offer, the seller’s real estate agent reached out to ours and really wanted a copy of our preapproval. That evening, they decided to extend their 5pm deadline to that evening, and then later on to the next day. We offered to waive our appraisal contingency but our offer remained the same.

I assume they’re waiting to see if they receive another offer today, but I’m not sure. Their condo is outdated but in a good location and seemingly safer than the others we’ve toured. I am willing to offer more, but we will have to go in and spend around $20,000 to update the place.

Should we offer more? Wait it out? This seems like our best option for a condo right now, but I think the seller may not have many other offers. I would just appreciate some advice.

Thanks!

submitted by /u/floridagirl926
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source https://www.reddit.com/r/RealEstate/comments/uwob7t/seller_pushing_back_decision_making_on_offer/
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