Just got out bid again...well sort of in Round Rock Tx

[Pat Brown]

Put a bid on a house just east of 35 good location. House was almost 1400 sq ft and priced at 164,900. Put a bid at 170k and had the high bid but a cash buyer came in and they took that offer.
It could come Back On Market BOM. Which brings a question. If you see a BOM and a Price Drop obviously or maybe not so obviously someone did an inspection and bailed and just lost the Option Money. So would you jump on one of those, hoping like the foundation is not cracked?
A question for those bidding what is the standard rule of Option Money? Is there a formula like (Age of House, Shape of House, Price of House)? Last question what about items that need repair in the house, in a hot market like Round Rock should you just leave those out and lower your price or put them in on say a full price offer or maybe a full price or a little over. I'm asking several questions here so any advice would be helpful.