House Update

As some of you may know, we have been house hunting a little and signed papers to submit an offer on a house on Monday (well, we signed saturday, the offer went in yesterday). Some of you have waited anxiously to know what we found out (though I doubt you were counting the hours like I was...). It's an interesting situation we have here. The house is in Rose Park (the Rose Park North Stake) in the "West Pointe" division by North Star Elementary. It is a good sized house, but from the outside looks a little dirty and "well-used". We haven't actually gotten to go inside yet, but that was written in the offer. From the time they "consider" the offer, we have 5 days to go in and see the inside of the house, and can pull our offer for any reason during those 5 days. Our agent has been really great. We found out yesterday that we are in 3rd place. The seller's agent seems a little ill-informed or just lacadaisical about it all. He posted the wrong picture of the house in the posting (it has been on the market for a significant amount of time) and wasn't aware that it was a wrong photo until our agent informed him of such about a week ago. We were told a sale failed and that's why it was back on the market, but we were also told they were waiting on the bank for approval of an offer, but then our agent was told they don't expect the bank to be in any kind of hurry and that it could take 3-4 months to work with this offer. We have received a significant amount of conflicting information, but I suppose we'll eventually get through it all, right? So, a quick summary: Our offer is in 3rd place; We are deciding if we want to raise our offer price or wait it out; We still haven't seen the inside, but hope to soon;

Any wonderful advice about upping the offer vs. waiting it out? We (sometimes) like advice.