PricePinner
Overpaying is the fear that people talk about. Underbidding is a quieter problem.
The cost of a lost home
If you always bid below the market, you lose bidding after bidding. Each lost home costs time, energy and viewings.
Why people underbid
- They use asking prices as a guide.
- They use old prices from memory.
- They hope for a bargain in a busy market.
The market is the market
In a popular area, homes sell close to their market value. A bargain is rare.
Know the real level
The fix is the same as for overpaying: know what homes really sell for. Then you bid with confidence and you stop when the price is too high.
Practise
If your guesses in PricePinner are mostly too low, you may also underbid in real life. Good to know before you start.