Buying? Here’s how to bid like a winner!

According to the National Association of Realtors, approximately 60 percent of homes that closed in the U.S. during the first quarter of 2016 were involved in bidding wars. If you’re in the market for your dream home, don’t be discouraged — consider these strategies to help you get a leg up on your fellow buyers.

Pay cash. If you can afford to buy a home without a mortgage, a cash offer is the most attractive to sellers. Cash transactions eliminate any stumbling blocks over financing issues, and can close much faster without waiting for a mortgage.

Act fast. When you find a home you love, strike while the iron is hot. Be the first to make an offer, and if there are other parties interested in the home, it is recommended to offer the asking price. A lowball bid in a competitive market may insult the sellers.

Get a pre-approval letter. If you need to secure a home loan, obtain a pre-approval letter before you bid on a property. The seller will be able to take your bid seriously, and will not hesitate to negotiate.

Offer a generous deposit. When bidding on a home, it is typical to pay a deposit of 1 percent of the purchase price. Offering a larger deposit of 10 percent of more is a good faith gesture that will show the buyer you are very interested, and it will just be applied to your closing costs at the end of the process.

Be passionate. Like buying, selling a home is an emotional process. If you think you’ve found your dream home and want the owners to pick your bid, now is the time to pull on their heartstrings to make your offer stand out. You can include a personal note along with your offer, telling the owners how much you love the home and how you can visualize yourself making memories there, too.

Adjust to the seller’s needs. Last but not least, a flexible buyer who makes things easier for the seller will always be a more attractive candidate. Determine when the sellers want to close, and be willing to work on their timetable. For example, they may need to stay in the home until their children’s school year ends, or they may be interested in moving quickly because of a divorce or a career change. Your willingness to help the seller may be worth more to them than a higher bid.