Buyer FAQs

The Rochester market

1. Is Rochester still a seller's market? Yes. Rochester remains one of the fastest markets in the country. In the first half of 2026 the typical home went under contract in about 10 days, versus roughly 50 days nationally. Inventory has improved a little, but well-priced homes still go fast. 

2. Why do so many homes get multiple offers and sell over asking? We have more buyers than homes for sale, and prices here are still affordable compared with most of the country, which draws relocating buyers too. In May 2026 about 71% of Rochester homes sold above their original list price, compared with about 26% nationally.

3. What does "highest and best" mean? It means the seller has received several offers and is asking everyone to submit their strongest, final terms by a deadline. There usually isn't a second round, so your offer should be the one you're comfortable winning or losing with. Deadlines are often set a few days after the listing goes live.

4. How much over list price are homes going for? It varies widely by price point, town, and condition. Some homes sell at list; popular suburban homes can go well over. I pull recent comparable sales for each home you're serious about so we can see what similar homes actually closed at, not just what they listed for.

5. Should I use an escalation clause? Sometimes. An escalation clause raises your offer by a set amount above competing offers, up to a cap. Some sellers and agents in Rochester don't accept them or ask for highest and best instead, so we decide case by case.

6. Why are offers reviewed on a set day and time? It lets the seller collect every offer and compare them fairly instead of reacting to the first one. For you, it means you have a few days to see the home, get questions answered, and write a strong offer.

7. Is winter a better time to buy? Often, yes. Fewer homes are listed, but there are also fewer buyers, so competition and bidding can ease. Winter also shows you how a home handles snow, ice dams, drafts, and heating costs.  

8. Will prices keep rising? No one can promise that, but Rochester's median sale price rose about 6% year over year in early 2026, and limited supply has kept prices climbing steadily. Buying makes the most sense if you plan to stay at least five years.

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Money and financing

9. How much do I really need for a down payment? Less than most people think. FHA loans allow 3.5% down, many conventional loans allow 3%, and VA and USDA loans can be 0% for eligible buyers. Plan for closing costs and a cushion for repairs on top of the down payment.

10. Are there first-time buyer programs here? Yes. The City of Rochester's Home Purchase Assistance Program offers income-eligible first-time buyers up to $6,000 toward closing costs on 1-4 family homes in the city, and up to $8,000 for homes rehabbed through the Greater Rochester Housing Partnership (City of Rochester). You must be approved before you make an offer, contribute $1,500 of your own money, and live in the home for five years. SONYMA (State of New York Mortgage Agency) also offers low-down-payment loans and down payment assistance statewide.

11. What are typical closing costs for a buyer in Monroe County? A rough guide is 3% to 5% of the purchase price. The big items are your attorney's fee, the mortgage recording tax, lender fees, title insurance, prepaid interest, and escrow deposits for taxes and insurance. Your lender's Loan Estimate gives you an itemized number early on.

12. What is the mortgage recording tax? It's a New York tax charged when your mortgage is recorded. In Monroe County the combined rate is $1 per $100 of the loan, and on a 1-2 family home the lender typically pays part of it, so most buyers pay roughly 0.75% of their loan amount (NYS Tax Department). Cash buyers don't pay it.

13. What if the home appraises below my offer? Your lender will only lend based on the appraised value. You can cover the gap in cash, renegotiate with the seller, challenge the appraisal, or cancel if your contract has a mortgage or appraisal contingency. We plan for this before you offer, especially if you're bidding well over list.

14. Should I waive the appraisal contingency to compete? Only if you have the cash to cover a gap and are comfortable doing so. A middle ground is offering to cover a limited appraisal gap, such as the first $10,000. We decide this together based on your savings.

15. How much earnest money (good-faith deposit) should I put down? In Rochester, deposits are often modest compared with other markets, commonly $500 to a few thousand dollars, held by an attorney or broker in escrow. A larger deposit can make an offer stand out. It's credited toward your purchase at closing.

16. Do I need a pre-approval or is a pre-qualification enough? Get a full pre-approval. Sellers in a competitive market won't take an offer seriously without one, and it tells you exactly what you can afford. A local lender who answers the phone on a Saturday can also help you win.

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Property taxes

17. Why are Monroe County property taxes so high? New York relies heavily on property taxes to fund schools and local government, and school taxes are usually the largest part of the bill. The upside is that home prices here are lower than in most of the country, so your total monthly payment is often still very affordable. Always look at the full tax amount, not just the price, when comparing homes.

18. Why are there separate tax bills, and when are they due? Most suburban owners get two bills. The town and county bill is mailed around the end of December and is typically due in full by about February 10, with installment options; school tax bills arrive around late August or early September and are due in the fall. Village residents get a third bill, and City of Rochester owners pay city and school taxes on one city bill. If you escrow, your lender pays these for you.

19. Will my taxes go up because of what I paid? Possibly. Your tax is based on the town's assessed value, not your purchase price, but many towns reassess periodically and sale prices influence those values. Ask me to check the town's equalization rate and when its last reassessment was, so you're not surprised.

20. What is STAR, and how do I get it? STAR is New York's school tax relief program. New homeowners no longer get the STAR exemption; instead you register with the state for the STAR credit and receive a check or direct deposit. Basic STAR is for primary residences with household income of $500,000 or less, and seniors 65+ under $110,750 may qualify for Enhanced STAR. Register right after closing at tax.ny.gov/star; it does not transfer from the seller.

21. How do village taxes work? Villages such as Fairport, Pittsford, Brockport, and Webster levy their own tax on top of town, county, and school taxes. In return you often get village services like leaf pickup, sidewalk plowing, and sometimes lower electric rates (Fairport has its own municipal electric). Compare the total tax bill, not just the village line.

22. Can I grieve my assessment if it seems too high? Yes. Each town has an annual Grievance Day, usually in late May, when you can file to have your assessment reviewed. You'll need evidence such as recent comparable sales; I'm happy to pull those for you.

Towns, schools, and location

23. Which suburbs have the best school districts? Pittsford, Brighton, Penfield, Fairport, Webster, Honeoye Falls-Lima, and Victor are consistently among the most sought-after. "Best" depends on what matters to your family, such as class sizes, specific programs, or sports. Check each district's report card on the NYS Education Department site and visit if you can. Note that school district lines don't always match town lines, so always confirm the district for a specific address.

24. City vs. suburbs: what are the tradeoffs? City homes often have lower prices, more character, walkability, and access to neighborhoods like Park Avenue, the South Wedge, and Corn Hill. Suburbs usually offer newer homes, bigger yards, and suburban school districts. Taxes, insurance, and commute differ by location, so we compare total monthly cost, not just price.

25. What are the up-and-coming neighborhoods? Areas near the city's core and along major corridors have seen steady investment, and inner-ring suburbs like Irondequoit, Gates, and Greece offer strong value. The right answer depends on your budget and priorities. I can share recent sales trends for any neighborhood you're curious about.

26. How long is the commute? Rochester commutes are short by national standards. Most suburbs are 15 to 30 minutes from downtown, the University of Rochester, or RIT, and the I-490, I-590, and I-390 network moves traffic well. Test-drive your commute at rush hour before you commit.

27. Should I worry about flooding? It depends on location. Lake Ontario shoreline homes in Greece, Webster, Hamlin, and Irondequoit have seen high-water damage in past years, and some properties near creeks sit in flood zones. Check FEMA flood maps, ask the seller about past water issues, and get an insurance quote before you're past your inspection period.

28. How bad is the lake-effect snow? Rochester typically gets around 90-100 inches a year, but it's spread out and the region handles it well; roads are cleared quickly. Snowfall varies by area, with spots closer to the lake often seeing more. Plan for a good snowblower or a plow service, and look for a driveway layout that's easy to clear.

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The buying process in New York

29. Do I need a real estate attorney? Yes. In the Rochester area both buyer and seller hire attorneys as a standard part of every sale. Your attorney reviews and approves the contract, orders the title search, works with your lender, prepares closing documents, and handles the closing. I can refer you to several local attorneys who close regularly.

30. What is attorney approval, and how long does it last? The standard Rochester purchase contract is contingent on approval by both parties' attorneys within a short window, usually a few business days after acceptance. During that window either attorney can approve, disapprove, or ask for changes. New York's highest court has held that until that period ends, the contract creates no binding rights, so an attorney can disapprove for any reason (Legal Survival).

31. How long from accepted offer to closing? Most financed purchases close in about 45 to 60 days. Cash deals can close faster, and some grant programs take longer; the City's purchase assistance program typically runs 55 to 70 days (City of Rochester). New York title work and attorney scheduling are often what set the pace.

32. What contingencies are standard? The common ones are attorney approval, mortgage approval, home inspection, and sometimes appraisal or the sale of your current home. Each has a deadline. In a competitive situation we may shorten timelines rather than waive protections entirely.

33. What's the difference between pending, contingent, and under contract? Under contract means a seller has accepted an offer. Contingent usually means conditions like inspection or financing are still being worked through. Pending generally means contingencies are cleared and the sale is moving to closing. Exact labels vary by MLS, so ask me if a home you like changes status.

34. Who pays the buyer agent, and what is a buyer agreement? Since 2024, buyers sign a written agreement with their agent before touring homes, stating the services and how the agent is paid. The compensation is negotiable. Often the seller still agrees to cover some or all of it, which we can request in your offer, but you should know your obligation up front.

35. What disclosures must the seller give me? Since March 20, 2024, New York sellers of most 1-4 family homes must deliver a completed Property Condition Disclosure Statement before you sign the contract, and they can no longer opt out with a $500 credit (NYSBA). The form now includes questions about flood history and flood insurance. Estates and some other sellers are exempt, and homes built before 1978 also require a lead-based paint disclosure.

36. Can I back out after my offer is accepted? Yes, but only through your contingencies, such as attorney approval, inspection, or mortgage approval, and within their deadlines. Once those are satisfied, backing out can put your deposit at risk. Talk to me and your attorney before you decide anything.

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Inspections and older homes

37. Should I waive the inspection to make my offer stronger? I don't recommend it for most buyers. Many Rochester homes are 60 to 100+ years old, and an inspection is your best protection. Alternatives that still compete well include a shorter inspection window, an "information only" inspection, or agreeing not to ask for small repairs.

38. Should I test for radon? Yes. Radon is a naturally occurring gas, levels vary house to house even on the same street, and the only way to know is to test. A test is inexpensive and can be done during your inspection. If levels are high, a mitigation system is a common, manageable fix.

39. What should I watch for in older homes? Common items include lead paint (assume it's present in homes built before 1978), knob-and-tube or older electrical panels, asbestos in old pipe wrap or floor tiles, galvanized or cast-iron plumbing, and plaster walls. None of these are automatic deal-breakers, but they affect insurance, repair budgets, and renovation plans.

40. Are wet basements common? Fairly common, especially in older homes with stone or block foundations. Look for efflorescence (white residue), water lines, fresh paint on lower walls, and the presence and condition of a sump pump. Grading and gutters fix many problems; others need drain tile or waterproofing.

41. Do I need a sewer lateral camera inspection? It's a smart add-on for older homes, especially those with mature trees. The line from the house to the street is usually the owner's responsibility, and roots or collapsed clay pipe can cost thousands to repair. A camera scope is relatively inexpensive by comparison.

42. Should I worry about a buried oil tank? In older homes that once heated with oil, yes. Signs include a fill pipe or vent pipe on the outside wall, or old copper lines through the basement floor. Your inspector or a tank sweep company can check, and an abandoned or leaking tank should be addressed before closing.

43. How old is too old for a roof, furnace, or water heater? As a rough guide, asphalt roofs last about 20 to 25 years, furnaces 15 to 25, and tank water heaters 8 to 12. Age alone isn't a reason to walk away, but it should shape your offer and your repair budget. Some insurers ask about roof age before they'll write a policy.

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Owning a home in Rochester

44. What do utilities cost through a Rochester winter? Heating is the biggest variable, and it depends on the home's size, age, insulation, windows, and furnace efficiency. Ask the seller for 12 months of utility history, or request it from the utility with their permission. RG&E also offers budget billing to spread winter costs across the year.

45. Who are the utility providers? RG&E (Rochester Gas and Electric) provides natural gas and electricity to most of the area, though a few villages like Fairport run their own electric utility. Water comes from the City of Rochester in the city and from the Monroe County Water Authority in most suburbs. Set up service a week or two before closing so everything transfers on the day you get the keys.

46. How much should I budget for snow removal? A quality snowblower is a one-time purchase of several hundred to a couple thousand dollars. A seasonal plow contract is an alternative; prices vary with driveway length, so get quotes in early fall before schedules fill up. Also budget for roof rakes, ice melt, and occasional ice-dam prevention.

47. What does homeowners insurance cost, and do I need flood insurance? Rates vary by home age, roof, electrical, and claims history, so get quotes as soon as you're under contract. Flood insurance is required if your lender says the home is in a FEMA high-risk zone, and it's worth considering for lakeshore and creekside homes even if it's optional. Standard policies don't cover flooding or most sump pump backups without an added rider.

48. Are there rules for renting out a home in the City of Rochester? Yes. The City requires rental properties to have a valid Certificate of Occupancy, which includes inspections such as a lead-based paint check. If you're buying a two-family or investment property, confirm the C of O status before closing and budget for any required repairs.

49. Can I add a fence, deck, or shed without a permit? Usually not. Most towns and the City require a permit for fences, decks, sheds over a certain size, pools, and many renovations, and some neighborhoods have HOA or preservation district rules too. Check with your town's building department first; it's much cheaper than fixing a violation later.

50. Is buying in Rochester a good long-term investment? For many people, yes. Prices here are well below the national median and have grown steadily, and a mortgage payment builds equity that rent never will. The best results come from buying a home you can comfortably afford and planning to stay at least five years.