https://www.siliconvalley.com/2022/06/10/when-buyers-remorse-strikes-in-this-high-stakes-market/

Q: Last week, we finally bought a house. This week, we want to cancel the sale. Upon reflection, we believe the price is too high. Our home search began in 2020. Until last week, other homebuyers outbid us. We heard that home prices were softening and sellers were now anxious, but not in this particular Bay Area neighborhood.

Essentially, there was light foot traffic at the open houses. So this helped us decide we could write a low offer with inspection contingencies. That did not happen. By Wednesday, the deadline to submit proposals, we learned “two other homebuyers were writing an offer.”