1. Not knowing what the seller wants

In competitive markets, homes go under contract quickly with multiple offers. Indeed, sellers often go with the highest bid—but that’s not always the case.

You might not even have to have the deepest pockets to win a bidding war.

“Besides price, there are many other factors a seller considers,” says Brie Schmidt, owner and managing broker at Second City Real Estate in Chicago. “It is important to have your real estate agent ask the seller’s agent what terms are ideal for the seller.”

For example, the sellers might prefer a fast or longer closing time to find their new home.

“They might not want to deal with the hassle of repairs and would take a lower offer if it was for an as-is condition,” says Schmidt.

Additionally, you can give sellers extra peace of mind by offering earnest money or an underwritten approval letter from your lender, which is almost as strong as a cash offer, according to Michael J. Vestuto, an agent with Vestuto Realty Group in Las Vegas.

“The more worry-free you can make the process for the seller, the better they will feel about working with you,” says Vestuto.