Gazumping--is it evil for us to contemplate it?

Ok, so the "project" house my husband and I were looking at was reduced in price from 105k to 85k, so we went to have another look at it today.  I didn't get to see the house the first time, but aside from the work that needs to be done inside, I actually like it a lot.  We reckon we could get most of the work done for 10-15k and have a really spectacular place for about what we wanted to spend in the first place.

But, when the agent turned up to show it this afternoon, they told us that an offer was just accepted this morning. Because it's a reposession and is owned by a bank, they are legally obligated to keep it on the market until the contracts are exchanged.  They are also obligated to publish the offer that was accepted.  So, we have the chance to gazump someone else and get the house anyway. 

Is that totally evil?  I know it happens all the time (or at least it seems to, anecdotally) and it's perfectly legal.  But it seems like a horrible thing to do.  Am I being too conscientious?

Ok, so the "project" house my husband and I were looking at was reduced in price from 105k to 85k, so we went to have another look at it today.  I didn't get to see the house the first time, but aside from the work that needs to be done inside, I actually like it a lot.  We reckon we could get most of the work done for 10-15k and have a really spectacular place for about what we wanted to spend in the first place.

But, when the agent turned up to show it this afternoon, they told us that an offer was just accepted this morning. Because it's a reposession and is owned by a bank, they are legally obligated to keep it on the market until the contracts are exchanged.  They are also obligated to publish the offer that was accepted.  So, we have the chance to gazump someone else and get the house anyway. 

Is that totally evil?  I know it happens all the time (or at least it seems to, anecdotally) and it's perfectly legal.  But it seems like a horrible thing to do.  Am I being too conscientious?

Hmm... Part of me says that if you don't do it someone else will and you'll regret not going for it. But the other part of me says NOO watch out for karma!!!!  I'm no help, sorry

The thing is...if you don't do the gazumping someone else probably will...

...and even if you do gazump, someone else may still turn around and gazump you back.

The way the market is at the moment you really have little choice other than to be ruthless.  It's horrible.


Vicky