1. Never buy without a home inspection. Almost all agents will tell you that you can't see everything about the house by only walking through it. Always get that home you're buying checked over by a certified home inspector and follow through on any additional inspections he recommends. In the long run you'll be glad you did.

2. If you don't understand something, speak up. Ideally, your agent will have run through the home buying process and what to expect at the start of your home search. But if there are things you don't understand with respect to the paperwork, process or terminology, simply ask! Not asking can be a nightmare down the road.

3. Submit your highest and best offer upfront. Of course get your realtors input, but in markets that are doing relatively well, high trafficked properties can get multiple offers. Make sure when you make an offer it's a realistic offer and submit it with a list of comparable sales to support it.

4. Be prepared to compromise. To come up with a winning bid, you might have to tailor it to a seller's needs, such as a longer or shorter close. Don't lose a house you love over something small like carpet, appliances or countertops. These are all things that can be changed, but the layout of the house, the features that this unique property possess you must focus on.

5. Don't get emotional. It's easy to get caught up in the excitement and tension of bidding. But you shouldn't move past your predetermined price range, no matter how much you love the house. Going outside of your preset spending can cause you extra tension and may cause buyer's remorse for one of the biggest investments you may make in your life.