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How to Win Bidding Wars in the Rochester Market
Manage episode 154619230 series 1128646
Innhold levert av Brad Saarela. Alt podcastinnhold, inkludert episoder, grafikk og podcastbeskrivelser, lastes opp og leveres direkte av Brad Saarela eller deres podcastplattformpartner. Hvis du tror at noen bruker det opphavsrettsbeskyttede verket ditt uten din tillatelse, kan du følge prosessen skissert her https://no.player.fm/legal.
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Are you prepared to win a multiple offer situation in Rochester as a home buyer? I’ve got some tips that can help put you over the edge and win those battles.
The first and most important thing is to hire a team that specializes in that particular area. My team, for example, has about 15 agents who are also top agents in the area. A lot of listing agents know who we are, so when we make an offer for you, there’s typically a relationship with the listing agent.
The second thing to look out for is what to do when making an offer over list price. If the list price is between $150,000 and $400,000, in most cases, offering $5,000 to $7,000 over should work. If you find yourself in a very competitive situation, try not to give appraisal guarantees, but a lot of times it can help. This means if the appraisal comes up short of the offer, you guarantee to cover the gap.
Another alternative if you can’t win a multiple bid situation is finding a great home in a great neighborhood that has good infrastructure, then add the cosmetic updates to your liking. Your goal should be to get about 5% to 7% sweat equity after that.
Thanks for watching today. If you have any questions, feel free to reach out to us.
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