Hot market tips for buyers.

(NC)- When the demand for houses in a sizzling marketplace outweighs the supply of houses available, many consumers think the highest offer is a sure-fire way to claim ownership of their dream home. In today's fast paced market, real estate professionals at Coldwell Banker know that bidding for a house doesn't always require upping the stakes.

Accommodate the seller - As a buyer, you have to be flexible and willing to sacrifice a bit. Whether it's being willing to close one month earlier or later, do your best to meet the seller's desired closing time. Additionally be willing to overlook the more minor and less-than-perfect characteristics of a given home because other prospective buyers may not be able or willing to do so. If the seller is under pressure and wants the house sold quickly, they'll generally prefer to work with the buyer that can accommodate them the best.

Prepare - If you're willing to make the investment, then you must be a qualified, solid, desirable buyer. Get a copy of your credit report and settle any debts that may be outstanding. You'd be surprised how many people get turned down for a loan because of an old debt they had forgotten all about. Get pre-approved for loans and mortgages. The seller wants and needs and ideal buyer, someone who is stable and ready to make a commitment to the property. Going into the negotiation process as a pre-approved buyer puts you at a major advantage.

Connect with the seller - Eliminating as many contingencies as possible will give you an advantage when involved in a bidding war. If you have a home to sell before purchasing, sell it first. Reducing uncertainty makes the buyer more appealing to the seller and will create leverage for the buyer.

Show them the money - Be willing to increase the size of your down payment or make an all cash offer. "Sometimes the best way to win a bidding war and avoid paying a higher price is to increase your down payment. Sellers favour strong buyers. If you can afford to make an all cash offer, do so-that's almost always a definite way to slam-dunk a sale."

Work with the best in the biz - Be sure to choose a sales professional who has an excellent reputation within the industry. Working with a Coldwell Banker sales representative who is known for their professionalism, credibility and honesty will always work in the buyer's favour.