• Choose an experienced real estate broker to work with, who you have confidence will not only be able to show you your dream home but will also be able to represent you in a negotiation.  [Click here for Choosing an Agent]
• Make an all-cash offer if you can.  Or, get a pre-approved mortgage.  This is done by applying for a mortgage based on your qualifications and contingent on the building you eventually choose  being approved by the bank.  It allows you to make an offer without a mortgage contingency (this means you are not asking for return of your deposit if you cannot get a mortgage), which allows you to compete with an all-cash offer. You will still not be able to close as fast as an all-cash buyer can, but a no-mortgage contingency deal is more solid, hence more attractive to the seller.  Please ask your attorney for other ramifications.
• Make your offer as soon as you have seen the apartment and decided you want it.
• Provide a written offer and an assets and liabilities statement with your offer.  Your broker can supply the form, or you can use the one below.  [click here to download sample]
• Interview and choose an attorney at the beginning of your apartment search so you can put him in touch with the seller’s attorney immediately. 
• Press your attorney to complete his due diligence quickly so you are not delayed in signing the contract.   Instruct him to use e-mail, fax, a messenger service or overnight mail for correspondence with the seller’s attorney.
• Once you’ve made an offer, keep the negotiation moving.  Have your own “drop dead”  figure in mind.  If there are two of you buying, agree in advance who will do the negotiations and at what price  you will stop raising your offer.  This way, the negotiator doesn’t have to consult between each incremental bid.  A seller will see your offer as more serious if you proceed steadily.  Delaying is a poor tactic in this market. 
• “Best and final” is a common request in this wild market.  There are few bargains these days, and the most desirable apartments are selling quickly.  If your negotiation becomes mired in multiple bids, you may be asked to give your best and final offer.  You won’t know what the other potential buyers are offering.  You must just give your “drop dead” price.  It’s not ideal for a buyer, but you need to be emotionally prepared to respond.  (Or not, if it makes you too uncomfortable.)   If you are prepared with a pre-approved mortgage or all-cash deal and can provide your assets and liabilities statement immediately, you are in a strong position.  Your agent may get some hints from the selling broker or the seller.  Ask your broker to share this information with you. [Click here for Choosing an Agent.]

Good luck!