Xome bid - tips for a newb bidder

[Elaine Fawcett]

Although I'm looking to buy multifamilies, I found myself in a situation where I need to buy a personal home. 

Going to bid on a Xome home. Already had one auction where the reserve price wasn't met. (I was not the bidder) My agent is in contact with the agent for Carrington Mortgage. The Xome site says the bid is under review. 

We missed this bidding cycle. This is a unique property and I'd like a chance to bid. (I'm not getting emotional, I just came in late to the bidding process) 

Basically, while I was getting quotes on repairs, we missed the fact that the auction was closing. 

So the question is: Should we just wait to see if the last bid gets rejected? Or should I contact Xome or the broker selling the home to let them know there's another bidder out there? 

List price was 199,900, the bid was 121,500 - and the list price has since been dropped to 189,900. Sounds to me as if they will reject that bid on their own at 121,500 or else why would they bother to lower the list price? 

Also, any thoughts on what the reserve MAY be? If the list price is 189,900, is that a pretty good indication of their reserve? Total newb to auctions, so forgive the dumb questions. 

Thanks community!!!