How to WIN a bidding war...(Four Essentials)

Select the Right Agent

Find someone that is responsive, attentive to YOUR needs and is able to offer sound advice in multiple offer situation.  Seek experienced agents that are used to handling these types of negotiations.  

Get Pre-Approved 

This is something you should do in ANY market.  Dream homes do not come every day, so you should be ready to act when you do find the ideal home.  If you do not have a lender, your real estate agent should point you to several options before the search begins. 

Drop Unnecessary Contingencies 

Sellers are used to getting their way, so don't give them a reason to say NO!  There are some tiny items that you can live without in the long run, so don't step over dollars to get to dimes. 

Offer more than list price

This is not something you want to hear, but is for your own good.  In a multiple bid situation and in an insanely hot market, it's a MUST to offer above list price.  Now of course, this does NOT mean to write a blank check.  Speak with your agent about your financial capabilities and keep yourself accountable to spending what you can afford.