“We Buy Houses NJ for Cash” is a generic term used to describe any and all real estate investors and companies who are willing to pay for cash on any property offered with little to no repairs or renovations required.
One of the biggest reasons to sell your property to a “We Buy Houses NJ” company is that they’ll take your property off of your hands “as is”.
Another added benefit is that these companies are more willing to work with you than most real estate investors. This means that if you want the deal to be closed fast, they’re far more open to negotiations.
How Do We Buy Houses NJ Companies Work?
Working with a cash buyer is simple.
The process starts with you calling them and submitting the necessary information to get a qualify, no-obligation offer from them. Then, once you’ve received the offer, the two of you can then negotiate when the cash buyer can perform an ocular inspection of the property. After this, the cash buyer will proceed to give a revised offer (it can be higher or lower, it depends) based on numerous factors.
If you accept the revised offer, the two of you can then work out on the closing date that’s most convenient for you.
Oftentimes, the closing costs and other fees involved in the transaction is covered by the cash buyer. This means that you have little else to worry about. However, it’s still best to make sure, so read the fine print before signing the contract.
Once you’ve sold over your property, the cash buyer then proceeds to make the necessary repairs and renovations to sell it at a higher price.
Basically, what we’re describing here is that they’re house flippers.
Disadvantages to Selling to a We Buy Houses NJ Company
Getting a fast, all-cash offer for a property as-is with the flexibility of choosing your own closing date doesn’t come without its fair share of compromises.
For one, the biggest compromise is equity.
Unlike the traditional real estate selling process where you can set your price, cash buyers are the ones who will be making the offer. Often, the price is around 20% to 50% of your home’s fair market value.
That’s a lot of money.
There’s also the risk that you might be working with scammers. Although the government has managed to crack down on many illegitimate cash buyers, there are still a couple who remain operational. This is why it’s important that you can double-check the investor or company to see if they have a proven track record and have established themselves as a trusted company in and out of your community.
As a general rule of thumb, don’t sell your property to the first “We Buy Houses NJ” that you see.
Sell Your Property to a We Buy Houses NJ Company Today
On average, homeowners are expected to pay up to 10-20% of their home’s final selling price in fees when selling real estate through traditional means.
Keep in mind that the final selling price is usually lower than your home’s fair market value, which means that you could be losing as much as 25% in fees. Not included are other expenditures involved in the traditional home selling process. This includes staging your home to attract potential buyers and having to deal with buyers all of the time, which can be pretty stressful if you plan on living in the property until it gets sold.
On the other hand, working with a “We Buy Houses NJ” company means that you can set the time and date when the deal is closed, allowing you to plan things properly, which makes for an overall less stressful ordeal.
In the end, it’s up to you to decide how you’ll sell your New Jersey property.
If, however, you’re willing to take a slightly larger hit on how much money you’ll end up having, at the expense of a less stressful transaction, you’ll want to take a close look at working with a reputable cash buyer in your area.