How to Quickly Flip a House in New Jersey

“How do I sell my house quickly in New Jersey?”

 

That’s one of the most common questions of homeowners in the area. But, arguably an even more common question is, “how do I flip a New Jersey house quickly?”.

 

The allure of flipping real estate is hard to resist. The combination of making potentially easy and fast money, as well as the popularity of house flipping because of the many HGTV shows that glamourize this, make it an interesting venture.

 

Doing so is much easier said than done, however.

 

Between the monthly costs, taxes, maintenance, and mortgage payment and making sure that you sell the house quickly enough to recoup your initial investment, flipping a house takes a lot of effort and a certain amount of luck.

 

Below are tips that you can follow if you want to sell your New Jersey property quickly.

1. Have a budget and stick to it

One of the more common mistakes that first-time investors make when they start flipping houses is that they end up spending way too much and recouping way too little once all is said and done.

 

Among the most common culprits is taking on more renovations and not finding out which repairs and upgrades are the most cost-effective.

 

When buying real estate for potential investment, make sure that your focus is not just sprucing up the place, but making sure that there are no hidden problems. Ensuring that everything is in order is more important than making the house beautiful. Also, if it’s your first time, try to avoid large renovation projects.

 

Stick to the small projects, even if it means that you won’t be making as much of a profit.

 

Build up your reputation and try to gain experience first.

2. Don’t forget to network

Your professional network, which should consist of a team of trusted contractors, is arguably more important than your network of potential buyers.

 

Before you decide to take on a particular project, you should already have people lined up waiting to take on whatever it is that you want them to do. More importantly, they should be willing to do it at an affordable price without compromising on the quality and on the deadline.

 

As you expand your operations, your network will grow from contractors to include agents, lawyers, accounts, and even cash buyers, who will always be the first to tell you that “We buy houses NJ” for a fair price.

 

Remember, the best deals and most profit are made through networking.

3. Don’t be afraid to outsource

As tempting as it is to take on the entire renovation project by yourself, you’re probably better off outsourcing some aspects to more experienced professionals, or contractors that you can trust so you can work on multiple projects at once.

 

Your goal should always be quality. Never sacrifice on it. Otherwise, it will show, and your reputation will be ruined.

4. Be as objective as possible

The less emotional attachment that you can have in the properties that you end up buying and flipping, the better. If you have zero emotional attachment, then that would be ideal.

 

To your clients, the house you’re selling is a home. To you, it’s just a product.

 

Treat it as it should be — a product.

 

Focus on renovation projects that actually increase the value, but try to avoid “personal” touches that you think fit well with the space but do not objectively make any sense.

 

By sticking to neutral tones, you make the house appeal to a wider audience. At the same time, you also get to keep your costs low. However, don’t be afraid to splurge a bit as well, especially if the space warrants it and it helps increase its value or makes the house sell quicker (or if you already have a buyer lined up that has specific instructions).

 

Whether you’re looking to start flipping houses, or need help selling a property in New Jersey for cash fast, we can help you because we buy houses NJ and close deals in less than a month so you don’t have to worry about your property not being posh or good enough to be listed on the market.

 

 

How Much Money Do You Lose from a Stagnant Listing?

Having a house listing on the MLS is no guarantee that it’ll sell, let alone for the price that you want.

 

For the first few weeks, it’s not unusual for your house to receive a lot of offers and visits. But, as times goes by, and the weeks turn to months, you’ll notice the number of qualified buyers going down significantly. Most of the time, this is because, majority of them have already seen how long your house has been listed and will most likely assume that there’s something wrong as to why it hasn’t been sold just yet.

 

It’s not like you can just drop your asking price, either.

 

Continually decreasing the price of your New Jersey property that’s up for sale can make you seem desperate, and before you know, you’ll find yourself settling for a selling price that’s significantly lower than you expected.

 

That’s why it’s important to make sure that, not only your house is listed, but that it’s not listed for a long time.

Why Is a Listed House Not Selling? How Can You Make It Sell?

There are multiple reasons as to why a house that’s been listed on the MLS is not selling.

 

This includes:

  • High asking price
  • Bad photos or description
  • Decor is too personal
  • The house looks uninviting
  • Unresponsive seller
  • Too many repairs or renovations required

 

And the lies goes on and on.

 

As already mentioned earlier, just because your house is listed, doesn’t mean that it’s going to sell. You’ll have to wait for weeks if not months to find the right buyer, and even then, that doesn’t mean that you’ll be able to close the deal just yet.

 

Until both parties have signed on the dotted line, the house is considered to still be up for sale.

 

So, “how do I sell my house?”, you ask. After all, waiting for a listed New Jersey house to be sold can be quite tiring. Plus, you’ve got bills to buy as well, and you may need to move away soon.

 

In such cases, you’re better off working with a cash buyer or a real estate investor.

 

Direct buyers work on a cash-to-cash basis and will buy houses as is. If you’ve read ads about people who say that, “We buy houses NJ in less than a month as-is”, then that’s what cash buyers are all about.

 

They’ll buy your property outright without asking for commissions and repair costs. Not to mention, in case you get curious, there no obligation. You simply have to call them and let them know the details of your property. So, at most, you’ll get a fair value offer for how much they’ll be willing to pay for your property, and if it’s too low for what you’re asking for, you can get back to either continue listing your house or making a couple of changes before relisting the property to help make it sell better and faster the next time around.

 

Remember, selling a house is much easier said than done.

 

If you’d rather avoid the costs of listing your house and watching its value go way down than expected, you’re better off selling your New Jersey property to a direct seller.

 

Are Cash Property Buyers in New Jersey Legitimate?

We buy houses NJ” is a popular slogan by cash buyers in the New Jersey area.

 

You’ve probably seen their ads plastered all over the areas, either via billboards, signs, or even on your browser. But, the question, are they real? Are there really people who are willing to buy properties for fair price as-is, with little to no renovations or repair works done?

 

First off, we buy houses NJ companies, or cash buyers, are not for every seller.

 

If you’re asking yourself, “how do I sell my house the fastest way possible?”, then you’re probably one of the people who will benefit the most from selling your house to a cash buyer. But, if not and you’re willing to wait, then you’re better off selling your house the traditional way.

 

Make sure that you evaluate your needs first when selling your New Jersey property so that you can come to the right decision.

Do Your Research First

You should do your due diligence first when selling a house.

 

Whether you choose to list your house, or work with a cash buyer, research is of utmost important. If you decide to sell to a “We buy houses” company, then try to look them up online and read testimonials. More importantly, do a quick follow-up on their references and previous customers. Actually call them up and ask them, via phone or on social media, how it was like working with the said cash buyer.

 

By doing all of this, you minimize any chances of you getting scammed. Also, if something ever feels off or you need something clarified, don’t forget to ask.

 

It is your right as a seller to ask for clarification.

 

Keep in mind that, while there are cash buyers that are easy to work with and will pay for your New Jersey property with cash straight-up, there are those who will try to find sneaky ways to pad their profit and make sure that they don’t end up paying you as much as they initially promised.

Cash Buyers Are Great — If You Do Your Research First

For every negative experience a home seller has had with a “We buy houses NJ” company, countless others have had quick and easy transactions with other more legitimate cash buyers and real estate investors.

 

Many cash buyers that you can have a solid team that you can contact for clarifications and work closely with you to make sure that the deal is closed in just a matter of days if not a couple of weeks at most.

 

Mind you, while cash buyers’ offer may look low, you have to take a look at the big picture.

 

If you’re selling to a cash buyer, you don’t have to worry about anything else. No more waiting times, no more repairs or renovations, or even, no more negotiations. You only need to let them know that your house is on the market, and after a quick, ocular inspection, a cash buyer will give you a fair-market offer for your property.

 

It is that simple.

 

With a cash buyer, you have the satisfaction of knowing that you no longer have to worry about selling your home and working with a real estate agent. You’ll find yourself financially relieved and moving on quickly from your New Jersey property in a few short days.

4 Things That You Can Do To Help Your Listed New Jersey Property Sell Faster

Most people think that listing a house is the only way to sell a real estate property. But, that’s not true.

 

In fact, the truth is, listing a house on the MLS is no guarantee that someone’s going to buy it. Sure, it does increase the chances of it being seen by prospective buyers, but that’s just it. There are no assurances that your property is even going to be sold the traditional way.

 

So, what gives? You may wonder, “how do I sell my house if listing it isn’t working?”

 

Well, before you give up on listing your house, there are a couple of things that you can still do, such as:

1. Relist your house

A bad listing can significantly lower your house’s value. The biggest culprit? Bad photos.

 

When prospective buyers browse listings, they expect to see a house in tip-top shape, especially if you’re asking for a premium price tag for it. Of course, it’s impossible to keep a house 100% spotless, but do at least make an effort to clean.

 

If you work on your photos (you might even want to hire a professional photographer or someone with experience taking photos of real estate listings) and write-ups (description should be precise, honest and succinct without over-selling), there’s  a huge chance that your property will sell a lot faster.

2. Lower your listing’s price

Take a quick look at the other properties that are also being sold in your area, and take note of those who were sold in less time.Try to be as objective as possible, and don’t forget to factor in fees and other costs, especially repairs and maintenance.

 

If they were sold for less than what you’re selling your house is for, then your property is most likely overpriced. Expect your property to sit there for quite a while unless you make the decision to lower its price.

 

Remember, the longer it takes you to sell your house, the more taxes, utilities, insurance, and maintenance will cost you.

 

So, a lower asking price might end up netting you more money in the end if it means getting your house sold fast.

3. Try to make a couple of improvements and renovations

Most homebuyers want a home that’s ready for occupation. If majority thinks that your house needs aa couple of repairs done first before they decide to live on it, then you might want to consider doing a couple of improvements.

 

If it’s already beyond your budget, or you don’t want to trouble yourself with it, you can try lowering your price.

 

Another way to grab the attention of prospective buyers is to offer them a line of credit for repairs and renovations. This way, they can fix the house however they want once the deal is closed, and it’ll be no your tab.

4. Change agents

Sometimes, it’s not the house that’s the problem. It’s the agent.

 

If your agent is taking too long to sell your house, then you might want to consider looking for another.

 

Of course, if you want to avoid going through all this trouble of listing your house, “We buy houses NJ” companies exist that will buy your property for cash outright as it is without any fuss.

 

No more asking yourself, “will I ever get a chance to sell my house?”, or wondering if your house is priced too high, and more importantly, no more waiting time.

 

You simply have to ask for a direct offer from a cash buyer, and decide if it’s right for you. If it is, then the deal can be closed in a matter of days. If not, then there’s no obligation.

 

So, really, you’ll lose nothing if you try to sell your listed New Jersey property property to a cash buyer!

3 Steps to Selling a New Jersey Home with a Tenant

“Help! I want to sell my house but there’s a tenant in it!”

 

This is a common problem among many landlords who are looking to liquidate their asset and sell of their property. Unfortunately, selling a New Jersey home that currently still has tenants is much easier said than done.

 

If you’re not careful, making the wrong decision could end up landing you in legal trouble or a big fine if not both.

 

So, how do you sell a house in New Jersey that still has a tenant in it?

1. Wait for the lease to be over

If you were smart enough to include in an early termination clause in the lease contract that allows you to terminate a tenant earlier, provided that certain conditions are met, then good for you. If not, then it might be in your best interest to wait the lease out.

 

Once the lease is up, you can tell the tenant that you plan on selling the house and work on a new agreement where they can still rent from month month, but will have to vacate as soon as the property is sold.

 

This way, they can continue living on your property while you’re showing it to prospective buyers.

2. Minimize any potential issues and arguments

You’re lucky if your tenant is willing to work with you about the impending sale. If not, then that’s a very common reaction.

 

Try to anticipate any potential reaction that your tenant might have and prepare for it. That way, you can come up with ways to minimize any potential issues and arguments.

3. Work together with your tenants

Getting your tenants on your side and working with them to make showings go smoothly should be your top priority.

 

Remember, the law can side with your tenants if you’re not careful. Don’t be afraid to offer them with a couple of incentives to make sure that doesn’t happen. For example, you can try reducing their rent until the property is sold, or you can also offer to give them back their security deposit to help them with a future move, or something else.

 

Also, when you and your tenants are on the same side, it’ll be easier to keep the entire property clean and attractive in the eyes of buyers. Plus, if you have a bad relationship with your tenants, even if you don’t get into legal trouble for what you’re doing, they can put sabotage you and talk negatively to potential buyers, further delaying your sale and making you lose money by drastically lowering the potential value of your property.

 

As ideal as it is to have no one in your property when putting it up for sale, you’ll want to be considerate as well.

 

Try putting yourself in their shoes first before thinking that they’re out for you. They’re simply trying to make their living situation stable, and if they’re defensive, it’s only a natural response because you’re taking away their home from them.

 

Make sure that your renter is happy and comfortable with the sale while an active lease is in place to make sure that the selling process goes smoothly.

 

If you don’t want to trouble yourself by listing your house and still want to sell it for a fair price and fast, you can try working with a cash buyer.

 

We buy houses NJ cash and as-is. We can also help deal with potential issues. Not to mention, we’re also open to letting trustworthy tenants continue living in the property, at least, until we decide what to do with it.

 

Remember, when you’re selling a New Jersey property with a tenant in it, it’s important to keep them in the loop right from the start.

 

Who knows? Your tenant might even be in the market for a property themselves!

 

Why You Should Not Sell to An Amateur Home Investor

Because of how the media portrays home flipping and investing, more and more people are trying to get into it to cash in on the trend. However, not all investment companies are worth working with. Even worse, some of them are even operating illegally, which means that, by choosing to work with them, you are at risk of fraud and being scammed.

 

Of course, there are reliable investment companies out there as well; companies who actually operate within the legal bounds of the law and will make sure that your money is safe.

 

You’re better off waiting for those companies instead of risking it with a shady business. Otherwise, you’ll just be putting yourself at risk for the following issues:

 

  1. One-sided contract terms

Unless you do your due diligence, an amateur home investor will take advantage of your knowledge, or rather, lack thereof, when it comes to the home selling process.

 

Amateur home investment companies, or in worse cases, con artists, will try to convince you on accepting a “good” offer. They’ll hope that you’ll say yes eventually because of how persistent they are. Some of them might also try to make the terms look like it’s catered to benefit you the most, when, in fact, it mostly only favours them.

 

  1. A deal that will never happen

Amateur home investors will try and see if you are gullible enough to fall into their lopsided contracts and deals. They’ll try to appeal to your emotions and promise you a lot of things. Some might even tell you that they’ll be able to sell your home at a much higher price and give you more money, if you only signed with them.

 

As a good rule of thumb, if a deal sounds like it’s too good to be true, it probably is.

  1. The “rent trap”

Amateur home investors and scam artists prey on homeowners who are looking to sell house fast because they’re either moving abroad and don’t want to deal with their property anymore, or are trying to avoid foreclosure.

 

Majority of the bad investment companies will try to get you to sign a deal where you’ll transfer ownership to them and avoid foreclosure while also getting a chance to continue living in your property provided that you pay them rent.

 

This is a common scam that a lot of people have fallen into over the years. The worst part? You’ll end up paying a lot more money to the investment company instead of netting some profit from your house sale.

 

The best investment companies are reputable and have a lot of testimonials, as well as reviews online.

 

Make sure that you do your research right and choose a home investor that has your best interests in mind.

 

If you’re looking for a quick sale, just because or you want to avoid foreclosure, feel free to contact cash buyers as ourselves. We buy houses NJ cash, as is and with no strings attached. Not only that, but we buy houses for a fair price as well.

 

What You Can Do If You’re Jobless and Can’t Pay Your Mortgage

Most Americans are just a missed paycheck away from losing their home. That’s the harsh reality of today.

 

If you’re one of the hundreds of thousands of Americans who just lost their job today, one of the things that probably first popped up into your mind is, “how do I pay for my mortgage?”

 

Without a steady means of income, paying for a mortgage can be difficult if not downright impossible. However, as much as you may feel like the universe is conspiring against you right now, there are actually ways to fight back and make sure that you don’t lose your house, even if you can’t pay for it just yet.

 

1. Contact Your Lender

Most people don’t know this, but most lending institutions are actually quite understanding.

 

If you believe that you’re going to start falling behind payments soon, you should contact them right away. Explain to them what happened, and ask for any possible alternatives.

 

Most likely, the lender will let you enter a forbearance agreement where you’ll be allowed to skip payments for a set period of time and pay it back later on. The lender may also allow you to restructure your mortgage so the monthly payments are lighter, but at the expense of having to pay for it for a few more months or years.

 

2. Check Out Government Programs

The federal government actually has a number of programs in place to help people who have been hit hard by a financial loss, either due to the death of a family member or the loss of a job.

 

For example, the “Home Affordable Modification Program” is a supplemental program by the federal government for borrowers who recently lost their means of monthly income and need help keeping up with their mortgages.

 

Keep in mind that there are strict eligibility requirements in place. However, it shouldn’t hurt to try. If nothing else, the federal government may advise you on other things that you can do to make sure that you don’t lose your home even if you’re not qualified for the available programs.

3. Sell House Fast

This should probably be your last option, but at the very least, it’s better than losing your house for nothing.

 

Just remember, because you are selling your house due to fear of foreclosure, you’re not really in any position to bargain. So, your house may not be bought at the price that you want, or prefer. But, on the bright side, there are many individuals who are interested in buying such houses, with some even going as far as to pay for it in cash as-is.

 

Cash buyers such as ourselves are a good example of that. We buy houses NJ as-is. You only need to let us know where your property is located and we’ll check it out. Afterwards, we’ll give you a fair valuation, and if you believe that it’s a fair price, we’ll handle the nitty and gritty of the house-selling process and make sure that you get your cash on-hand in a matter of weeks.

 

 

 

Tips for Handling Difficult Tenants

Being a landlord isn’t all sunshine and rainbows. Even though most tenants pay well and take care of your property, there are outliers that can bring far more trouble than they are worth and will make you wish that you should have never become a landlord.

Below are some of the most common types of difficult tenants and how to deal with them:

 

1. Tenants who refuse to pay

Some tenants refuse to pay rent. Not that all of them refuse to do it intentionally, however. Sometimes, a tenant may have lost a job and can’t pay at all. In such cases, you can either be understanding and give them some leeway, or you can ask them to vacate the premises.

 

Regardless of the reason, make sure that you, as the landlord, confront the tenant and ask them why they refuse to pay rent.

 

Try to keep a record of all communication between the two of you, especially if it’s via email or text. The documentation can come in handy in case legal action is necessary.

 

2. Tenants who abandon your property

 

Sometimes, tenants not only refuse to pay rent, they might just go up and about and leave your property with their things still left inside.

 

If that happens, consult your lawyer immediately. Ask what you can do about their personal belongings first and how you should store them. Otherwise, the abandoning tenant can reverse the argument on you and threaten to take legal action for your mishandling of their things while they were gone.

 

3. Tenants who have a lot of complaints

Capricious and high-maintenance tenants are the worst. They’ll call you all of the time complaining about something.

 

The worst thing that you can do is to ignore these types of tenant’s calls. If you do, they are liable to take legal action. Instead, what you should do is sit them down and let them know what kind of requests you can accommodate, preferably in writing.

 

4. Tenants with suspicious or criminal activities

Call the police as soon as you suspect any illegal activity happening on your property. However, even if a tenant turns out to be a criminal and is arrested, that doesn’t mean that the rental is vacant already.

 

You have to legally evict a criminal first via due process. You can ask for help from lawyers specializing in property law to make sure that the eviction process is filed properly.

5. Destructive tenants

If a tenant destroys any part of your property, including the appliances, make sure that you call the police immediately to keep a record of all the things that the tenant destroyed.

 

Make sure that you keep photos, as well as videos, of all the damage done. Field offers from multiple contractors to see how much repairs can cost you. Also, don’t forget to check in with your lawyer as well. If the lawyer says that it is within your rights as the landlord, you can legally charge the repair costs to the tenant and deduct it from the security deposit.

 

Being a landlord is great, but having difficult tenants can be a deal-breaker.

 

If you have had one too many difficult tenants, then it might be time for you to sell your property and enjoy a stress-free life. But, selling house fast isn’t easy. Not to mention, it takes a long time to sell a property as well.

 

If you want a stress-free and smooth transaction without compromising the price too much, you can sell your rental property to a cash buyer. We buy houses NJ cash as is and close deals in weeks. Also, because we buy houses cash, you don’t have to worry about majority of the fees involved in the typical house-selling process as well.

 

The Hidden Costs of Selling a House That Nobody Ever Tells You

Did you know that there’s much more to selling your house than just putting it up for sale? Case in point, selling fees can reach up to 10 percent of the total sale price, and sometimes, it can even go much higher.

 

There are a lot of hidden costs involved in selling a house that nobody ever tells you until you’ve signed the deal and sold your house.

 

Make sure to watch out for these possible hidden costs of selling a house so you don’t end up getting

the shock of a lifetime once you’ve turned over your beloved home.

 

1. Commission fee

Real estate agents charge a flat percentage as commission fee for selling your house. Keep in mind, your real estate agent isn’t the only one who will be taking a percentage. The buyer’s agent will also be charging a flat fee as commission as well.

 

So, for example, you’re selling a $275,000 property, you could be looking to pay as much as $16,000 to $18,000 in real estate agent commission.

 

2. Repairs, renovations, and maintenance

The best way to ensure that you sell house fast is to make sure that it looks good.

 

Between landscaping, yard work, repainting, cleaning, and making sure that the house looks good for as long as it’s not off the market, you could be spending well over a few thousand dollars until you find the right buyer.

 

3. The costs of home staging

Staging a home isn’t necessary, but it helps a lot.

 

If you don’t stage your home, you risk not selling it for as high of a price as you want and as fast as you want to.

 

The average home staging cost can run from anywhere between $600 to $800 before a buyer is found. You could probably even end up spending more as well if your house is on the market for a long time.

 

4. Inspection and appraisal

Appraisals and inspectors aren’t always paid for by the seller, but it pays to be ready just in case.

 

All in all, you could be looking at paying nearly a thousand dollars for both, and that’s not including any repair costs involved if in case the inspector finds something that needs to be taken care of first before your house is cleared.

 

5. Closing costs

Closing costs cover a lot of fees, and in total, could take up as much as 5 percent of the total contract price.

6. Mortgage payoff

Unless you’ve already fully paid off your house before selling it, you’ll have to pay off your mortgage after the sale.

 

Between the prorated interest rate and the likely prepayment penalty, you’re easily looking at a few thousand dollars worth of fees down the drain and into the pockets of the lender.

 

As you can see, there are a lot of fees involved in selling a house, which is why a lot of people have second thoughts.

 

If you would like to skip majority of the fees and most of the hassle, you can try selling with a cash buyer like us. We buy houses cash after a short negotiation period. In a matter of weeks, your house will be sold to us, and you won’t have to worry about it anymore.

We buy houses NJ without troubling you for majority of the common fees involved in house selling and zero repair costs because we buy the property as it is.

 

For nearly just as much as you’d get in total after listing your house and nearly zero the typical work involved, you can go to a cash buyer today and let them take your property off of the proverbial plate so you can go on your merry way.

 

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