What would you do - wait it out?

We made an offer on a house that had been on and off the market for about six months, with 2 price reductions.

We only started looking for a home after the last price reduction, so I wasn’t following the home, but could see the history. We put in a full price offer (cash), and after inspection, agreed with the seller on 3% discount based on one of the primary systems failing inspection and needing replacement.

The morning of signing, the sellers realtor called and said, they had a full price offer, cash, waving inspection, and that if we want the house, we’d have to match.

We told them to take the other offer, as we didn’t want to come up in price and/or get into a bidding situation. And frankly, we weren’t 100% sure there was another offer, is seemed pretty random, this isn’t a “hot market.” We didn’t ask to see the other offer.

Two weeks have gone by, and the home is still on the market, being shown, not listed as pending. It’s a small town with limited inventory.

The small town vibe is what is making me rethink my “big city” approach of going back to them with our offer (full price - 3%). They know our offer, right?

Do we just wait and see if the sellers come back to us?

submitted by /u/32blue
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source https://www.reddit.com/r/RealEstate/comments/1nnk5hn/what_would_you_do_wait_it_out/