Increase the chance of getting your dream flat/home in a competitive housing market, and lower your chance of losing out to another buyer.

1) Get prequalified for a mortgage.
You will be able to make a firm commitment to buy and your offer will be more desirable to the seller.

2) Stay in close contact with your real estate agent/salesperson to find out about the newest listings.
Be ready to see a house as soon as it goes on the market — if it’s a great home, it will go fast.

3) Scout for new listings yourself.
Look at websites, browse your newspaper’s real estate classified section, and drive through the neighbourhood to spot For Sale signs. If you see a flat/home you like, write down the address and the name of the listing agent. Your real estate agent will schedule a showing.

4) Be ready to make a decision.
Spend a lot of time in advance deciding what you must have in a home so you won’t be unsure when you have the chance to make an offer.

5) Bid competitively.
You may not want to start out offering the absolute highest price you can afford, but do not go too low to get a deal. In a upbeat market, you will lose out.

6) Keep contingencies to a minimum.
Restrictions such as needing to sell your flat/home before you move or wanting to delay the closing until a certain date can make your offer unappealing. In a tight market, you will probably be able to sell your house quickly. Or talk to your lender about getting a bridge loan to cover both mortgages for a short period.

7) Do not get caught in a buying frenzy.
Just because there’s competition doesn’t mean you should just buy the house. And even though you want to make your offer attractive, do not neglect inspections that help ensure that your house is sound.