Buying a house, whats your opinions on this situation?

Me and my brother have put in an offer on a 3 bedroom house for sale in the next road from us, as we want to go into property development. This will be the first house either of us have brought. We have viewed the house and love it, it needs loads of modernisation. We have had a mortgage approved and all the paper work signed and payslips/ bank statements handed to the estate agents. They also have done credit checks on us both which passed with flying colours. The house was repossessed so the bank are selling it, not a private seller. The bank now have all of our documents and we are waiting for them to take it off the market. But on Friday we got a call saying someone has put in a higher offer.

But the thing is, is the estate agents have said we are the only ones to have all the paper work in, checks done and plus my mum is giving us £32,000 to put down a lump sum off the mortgage. The asking price is £130,000 which is what our offer is.

What are your opinions? Do you think the bank would rather our deposit plus knowing theres two of us who are in work and have the paper work, or would they rather take the higher offer which we don't know wat it is? I know we wont know for sure but were desperate to get it, and are so excited.

Thanks for anny thoughts:)

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