What's the Secret to Submitting a Winning Offer When Buying in Rochester?

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The summer market is still going strong here in Rochester, so today I want to share the best strategies for making an offer in a multiple offer situation. If you want to make the most of a competitive market, you need to be prepared!

Make sure you have a qualified agent: Nowadays, it's easier to become a real estate agent than it is to become a hairdresser. The problem with that is it's the agent's responsibility to give you financial advice on one of the biggest decisions you'll make in your life. Working with an experienced real estate professional will make all the difference.

Make sure your agent has market knowledge: If they don't know what the absorption rates are and the price range you're looking to buy in, it's going to be difficult for them to anticipate what kind of competition you're going to have. If you're buying in a competitive price range, you need an agent who knows how to play the given market to get results.

Have one or more pre-approval letters: This is a simple way to show that you are more qualified than other potential buyers.

Put down more earnest money: This is a great way to show the seller you're serious without actually costing you more money. Earnest money is good faith money that you put down when you make an offer. If it gets accepted, that money gets put in an escrow account and is applied toward your down payment at closing. It's money you would have brought anyway, but it tells them you're highly qualified and serious about buying the property.

Write a Dear Seller letter: Explain to the seller that you are serious about their property and that you can really see your family there. This is a great way to tie in to their emotions. Having an agent who has done this before is crucial if you want to write an effective letter.

If you have any questions about how I can make sure you don't miss out on the home of your dreams, don't hesitate to reach out to me. I would love to help you accomplish your buying goals.