Does your trademark predate the registration of the domain?
No it does not.
As others have said, this will make most WIPO cases ruled in favor of the domain holder.
TM holders do not have exclusive tights over a domain name, so with that in mind, if you do decide to go a challenge route, there could be a case of reverse hijacking against you.
Agreed. Right now your best bet is to offer to buy the domain from them. If you offer what you think it is worth (in reality, offer less than what you're willing to pay but still make it look reasonable) and they flat out refuse, then they might not be interested or considered your offer a "low ball" offer.
If they counter-offer, then you might have a chance.
But what to watch out for: If they change their sight and start referencing you or your competitors in an effort to confuse the consumer. Though if it is descriptive, that oculd be a hard argument to make, but still an argument.
Agreed. A common example here is if someone owned Apple.com. If I used it to sell apples (the fruit), apple products (apple pie, apple juice) and apple related products (fake apples, apple art, apple appareal etc.) then I'm safe. The second I have something that is electronics related they could get in trouble. The same goes for the TM holder. Watch the domain, make sure they don't try to cyber-squat you.
If you're unfamiliar with domains and purchasing I'd suggest looking into a domain broker, someone willing to step up to the place and negotiate a good price for you (don't ask me, I'm not good). They usually have a fee (5%? 10%? I don't know what the going rate is). Post in the help wanted area and people may give you offers. Find one that the price seems reasonable and someone you can trust.
Good luck!