Pierre Williams, spokesperson for Inside Track, rubbished suggestions that sealed bids were making it harder for first-timers, insisting that vendors naturally tried to get the best price possible.
Williams said that first-time buyers knew exactly what their budget was and what they were prepared to bid in order to secure a property, adding that if first-timers were unsuccessful it was unfortunate, but maintained the fact there was no point dwelling on the disappointment.
He did however have some advice for first-time buyers, illustrating the importance of care and consideration: “Think very carefully about whether they can afford the property and whether or not they feel comfortable that the final bid they make is a price that they would be prepared to pay for that property.”
“There’s no point putting a bid higher than you’re prepared to pay. But it should be the top price you’re prepared to pay, otherwise you’ll probably lose out.”
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