In a competitive, cut-throat property market, buyers will do anything they can to get the home they want. And they need to fight hard – each estate agency branch has an average of 511 registered house-hunters but only 21 properties for sale, according to the trade body Propertymark.

When it comes to sealed bids and extreme competition, buyers must set themselves apart. They should have a solicitor in place and a mortgage agreement in principle from the outset, while having money-laundering approvals done before submitting an offer can put them a week or two ahead of everyone else.

The aim is to fill the seller – and their estate agent – with confidence, said Alex Woodleigh-Smith, of buying agency AWS Prime. “Agents can wield a significant amount of power in recommending you to their vendor.”

The key to success for buyers is understanding a seller’s motivation, said Claire Northmore, of Marchand Petit estate agency. “It is no longer enough to make the highest offer,” she explained. “Simply being a cash buyer won’t make you stand out from a crowd full of cash buyers, either.”

Meanwhile, those selling up can’t afford to be complacent as buyers are savvy and won’t pay an overinflated price for a property that isn’t worth it.

For buyers

1. Offer a delayed completion

The usual time between exchange of contracts and completion is 28 days. Now, buyers are increasingly offering sellers flexibility on completion dates in a bid to seal a deal, said Jennie Hancock, of buying agency Property Acquisitions. The parties will agree a sale price and the buyer will still pay a deposit at exchange, but both will sign a contract agreeing to delay the completion date for anything from a few months to a year.

This is very attractive to sellers who have yet to find a new home to buy. In October, Roger Ball agreed to sell his four-bedroom house in the Devon village of Noss Mayo for more than the £850,000 asking price. Two parties bid the same amount, but the winner was the buyer who agreed to exchange within 28 days but complete by the end of July 2022. 

“This worked well, allowing us to look at houses with an exchange in place while our buyers have certainty, too,” Mr Ball explained.

The process is done through solicitors and there are a few things to bear in mind, cautioned Annabel Dean, of law firm Farrer & Co. 

“Buyers should ask that the risk for the property – and the responsibility for insuring it – remains with the seller until completion. The buyer should also check that their bank gives them leeway for a delayed completion, as most mortgage offers are valid for six months,” she said. Note, too, that you may have to renew searches.

2. Offer to pay the exchange deposit to the seller

Many sellers are asset-rich but cash-poor and need access to money – for paying the deposit on a rental, for example, or for moving costs. Rather than the seller’s solicitor holding all the exchange deposit (typically 10pc of the purchase price) until completion, you could agree to release a portion to the seller at exchange.

Although this is a risk – the seller could go off and spend the money and then not complete – it can put you head and shoulders above another purchaser, said Jonathan Rolande, of property-buying company House Buy Fast. “We paid some of the deposit to a seller so he could buy a camper van for a round-the-world trip.”

3. Meet the owners

It’s not everyone’s cup of tea, but if a vendor is happy to meet, it could give you an edge, said Tim Giles, of the Agency UK. “Sellers love their houses and, ideally, they would like to sell to somebody really nice and friendly. I had 15 people offer on a house recently and the seller chose the person who took the time to go and have a chat.”

David Blythman, who is in the process of selling his home in Devon through Marchand Petit, said meeting his eventual buyers allowed him to choose between two similar bids over the guide price. “We could see the whites of their eyes and make a judgment on personality rather than just bank references,” he said. “We did the same with the people we went on to buy from, sharing a bottle of wine with them.”

4. Think outside the box

In a hot market, you need to prove yourself. One way to do this is to apply for property searches at the point you submit your offer – it shows how much you want a house and saves time when it comes to conveyancing.

If you are buying a leasehold property and the lease requires extending, you need to have owned the property for two years. Conventionally, buyers will demand that a seller extend the lease, but faced with competition, they do not have that luxury.

Helen Marsh, of law firm Forsters, suggested a keen buyer could take the lease as it is. “They would then ask the seller to serve the lease extension notice in their own name and, at completion, assign the benefit of that notice to the buyer,” she explained.

Agents might ask buyers to enter into an exclusivity agreement, but these are not binding in English law. An alternative is an option agreement. “If you can persuade the seller to grant an option to you, the seller will be compelled to exchange with you at the agreed price if you are ready to do so within a fixed period,” Ms Dean added. “This eliminates the risk of being gazumped.”

5. Do whatever it takes

Sometimes, securing a house requires devotion – and flattery. 

Ben Marchbank, of Bedfords estate agency, was selling a property owned by an amateur artist. “The seller’s work adorned most of the walls, suggesting they were both prolific and not hugely successful. Of particular note was a 10ft canvas in the hall, a surrealist miasma comprising warped clocks and Munch-inspired faces.”

The house went to best and final offers and, instead of taking the highest sum, which came from a cash buyer, the owner accepted a lower offer from a buyer with a home to sell. “The decisive factor was that the offer included £20,000 for the canvas in the hall,” Mr Marchbank said. 

For sellers

1. Get your house in order

One in three house sales falls through, according to consumer group HomeOwners Alliance. While it may seem obvious, having everything in place for the moment you come to market can speed up a sale enormously and even prevent it from collapsing. 

If the house is old or listed, consider getting a survey carried out yourself, suggested Paul Clarke, of Mr & Mrs Clarke estate agency. “We had a client selling a Grade II-listed cottage and they didn’t want buyers trying to chip the price along the line so they ordered a full survey. This showed buyers they were very transparent and sped up the process by at least a month.”

2. Emphasise the potential

Consider drawing up plans to illustrate the development potential of the property – such as adding a loft conversion, garden room or extension. 

Matt Johnson, of Johns&Co estate agency, said: “Many companies will offer a quote and some simple outline plans free of charge. It can make a big difference to the appeal of your property, opening it up to additional buyers seeking a home with room to expand.”

3. Dress to kill

Make sure it looks as good as it can – we live in an Instagram age, after all. Amy Odell, of UK Sotheby’s International Realty, said: “The initial impression can make all the difference.”