Successfully buying a home is tough when you’re competing against multiple offers, but it’s not impossible…

1. Select the right agent.

   Your real estate agent will be your guide as you navigate the often-stressful offer process. Find someone who has experience in multiple-offer situations, whose judgment and advice you trust, and who can explain things to you clearly at every step of the way.

2. Get pre-approved for a mortgage loan.

   This is an important step for a buyer in any situation, but it’s even more critical if you’re expecting a bidding war so you can show the seller you can actually afford to buy the home.

3. Know the market.

   Find out if homes comparable to the ones you’re interested in have sold for their list price or for more. Work with your agent to answer these questions before you find a home you want to purchase so you understand what you’ll be getting into.

4. Offer more than list price.

   This is where your market research will come in handy. In a hot market, a seller might scoff at being offered the list price for their home if comparable homes have been selling for 25 percent above list. Offer to pay what you think is a fair price based on the research you and your agent have done.

5. Drop unnecessary contingencies.

   A buyer’s offer includes contingencies, which are conditions that must be met for the sale to go through. Some buyers waive certain contingencies to make the offer more attractive to the seller.

6.  Be flexible with the closing date.

   Find out as much as you can about the seller’s situation and offer to be flexible with the closing date if that might make a difference.

7. Pay earnest money.

   A buyer deposits earnest money in escrow account to be applied towards purchase price after their offer is accepted as a sign they are really serious about the purchase.  You can increase the earnest money as a way to show the seller you really want the home.

8. Provide your financial information.

   Often, the only information that a seller receives about your finances is a pre-approval letter from your lender.

9. Write a personal letter.

   Sometimes, a seller just wants to know that the home they love will be cared for by someone else. Tell the seller why you love the home. Compliment them on a recent renovation, a color palette choice or the landscaping. It won’t always matter, but sometimes a personal touch can mean more than having the highest bid.

You may not win your first – or even your first few times! Keep your head up, and learn from any losing offers. Your agent is there to support you and help you find the right home.