5 Top We Buy Houses For Cash Companies in New Jersey

Working with house-buying companies in New Jersey

We Buy Houses companies in New Jersey typically promise quick, all-cash offers and ultra-fast closings, often in as few as seven days. They tend to target distressed properties needing repairs and work with sellers who need to move ASAP.

Here’s how the process generally works:

1. You request an offer and provide the company with some information about your home. Some companies may make a preliminary offer at this stage, but it’s typically subject to change once they’ve inspected your property.
2. The company completes a walkthrough of your property, usually within 24 to 48 hours.
3. The company makes a firm offer (usually within 24 hours, sometimes on-site after the walkthrough), which you can accept or decline. Most of these companies will not negotiate on price, so the offer is a take-it-or-leave-it scenario.
4. If you accept the offer, you’ll both sign a contract, and the closing process will begin. Some companies offer a large deposit or moving cost assistance, and a few may even pay for the home upfront.
5. Closing and getting paid is quick, typically within seven days to a few weeks. This can vary by company, and sellers who work with a house-buying company often enjoy flexibility in selecting a move-out date that works for them.

Popular We Buy Houses for Cash companies in New Jersey

If these benefits of selling to a house-buying company in New Jersey sound good to you, it’s time to find a legitimate operation you can trust.

We’ve compiled some of the top companies that will pay cash for your cabin near Kittatinny Mountain or your parents’ Cape Cod in Cape May. By selling to one of these companies, you should be able to sell your New Jersey home in as little as a week or two.

Why sell for cash in New Jersey?

There are plenty of reasons a New Jersey seller may choose to go the Cash-For-Homes route, speed and certainty being chief among them.

In New Jersey, it typically takes around 76 days to sell a home on the market using an agent. That includes an average of 32 days on the market, plus the typical 44 days a buyer needs to close on a purchase loan.

Compare that to the typical seven days promised by many We Buy Houses for Cash companies in New Jersey, and you can see why these companies remain popular, even though they don’t always offer top dollar.

Not every seller has months to prep, market, show, and close. Let’s look at some common reasons New Jersey sellers choose Cash-For-Homes companies over listing the traditional way.

• The home has major repair issues that are common in New Jersey, such as snow damage or seaside wear.
• The seller needs to move or cash in quickly due to divorce, job relocation, medical needs, financial stress, etc.
• The seller doesn’t have the means or desire to make repairs.
• The seller doesn’t want to bother prepping the home, dealing with showings, negotiating, or navigating a long sales process.
• The seller prefers the privacy of selling their home off-market to a cash buyer.
• The seller is in the foreclosure process and wants to sell the home and settle up with the lender before it’s too late.
• The seller inherited a property that they want to unload as quickly as possible.
• The seller is a landlord who has problem tenants or no longer wishes to manage a rental property.
• The homeowner is aging and moving into a care facility, prompting their family to sell the home.
• The seller is living out of state and prefers the ease of a cash sale.

If any of these describe your situation, requesting a cash offer from a We Buy Houses for Cash company might be a good starting point, though it’s not your only option, and it may not be your best move (we’ll dive into your other options in just a minute!).

Pros and cons of house-buying companies in New Jersey

Working with We Buy Houses for Cash companies in New Jersey comes with the benefit of speed and service but also the drawback of getting a low offer for your home. Let’s walk through a few pros and cons to consider while weighing your options.

Pros

One of the biggest advantages of working with We Buy Houses for Cash companies in New Jersey is that you can sell your home as-is with no repairs required, and they’ll buy homes in any condition.

If your home was severely damaged in a weather event, or you’ve fallen years behind on routine maintenance, you can still sell without needing to make the extensive repairs that financed buyers may require.

That may sound pretty great to you as a seller if you’re looking to move within weeks rather than the months it might take you to list and sell your home on the market with an agent. However, there are downsides to working with Cash-For-Homes companies. Namely, they typically offer substantially below market value for your home.

Cons

When considering an offer from a We Buy Houses site, remember that these are house-buying companies, which means they’re ultimately trying to make a profit. They plan to fix up your home and either resell it or rent it out. That takes considerable time, skill, and investment.

Your home is more than a place where you make memories with family; it’s also likely your biggest asset. Sure, you want to sell quickly, but you could be leaving major money on the table if you don’t consider all selling options.

Always do your research, compare your options, and consult with a trusted advisor before accepting any offer.

Vet cash buyers and know your home’s worth

For many home sellers, We Buy Houses for Cash companies can be a solid solution to selling a property quickly or accessing cash for an expected life challenge. On the other hand, the “cash for your home” rehabbing business model has also led to what some housing advocates call predatory tactics.

The level of integrity and customer service you experience can vary, even within an established house-buying company that strives to maintain consistent business standards. This is because many We Buy Houses for Cash companies are franchises and often use independent investors or local wholesaling outfits. Your experience greatly depends on the character of the person or group making the offer.

If you are considering a cash offer, vet the company thoroughly. Check reviews, read testimonials, and research its presence and performance in the market. And, of course, read the buying agreement carefully before signing.

Get a home value estimate

Before committing to a We Buy Houses for Cash company, HomeLight suggests you consult with a top agent to get a better idea of what your home might be worth if sold on the open market. Then, compare cash offers to what a top agent might be able to get for your home. 

HomeLight can connect you with a top-performing agent in New Jersey. You can also use our free Home Value Estimator right now to get an initial ballpark estimate in less than two minutes.

Other options to sell your home quickly

iBuyers

Within the Cash-For-Homes industry, you’ll also encounter a particular group of companies known as iBuyers or instant buyers.

iBuyer companies offer sellers many of the same conveniences of other house-buying operations, but they also leverage algorithmic technology, otherwise known as automated valuation models (or AVMs), to make you a near-instant offer on your home and provide a user-friendly, mostly online home sale experience.

iBuyers have been around since the mid-2010s and are widely available across New Jersey. They offer all-cash and can close in a matter of days to a few weeks. But unlike more traditional We Buy Houses for Cash companies, iBuyers tend to look for homes in better condition and offer much closer to market value, typically in the 85% to 95% range.

However, one thing to note is that major iBuyers like Opendoor and Offerpad usually charge sizable fees for their services, between 5% and 6%.

Sellers who may be a good fit to work with an iBuyer in New Jersey include those who prefer to skip staging and showing their home, live in an area with somewhat similar housing, and have a home in relatively good shape.

Listing with an agent

You want to sell your house quickly, not in 76 days. But hear us out! Selling with an agent can still be swift, especially for homes that are priced strategically and marketed effectively.

Going with an agent could pay off big time. Selling on the market generally fetches the highest home price, and that’s especially true if you work with a skilled professional. Our internal transaction data at HomeLight shows that the top 5% of real estate agents sell homes for up to 10% more than average agents.

This is a big financial decision, so it may make sense to consult with a trusted real estate agent who can complete a comparative market analysis (CMA) to help you understand your home’s value and how quickly it’s likely to sell.

Your agent may even be able to connect you with cash buyers who are willing to offer closer to market value for your home.

Plus, a CMA is usually free, and you’re under no obligation to list with the agent, so this may be a good tool to explore your options. Even if you end up deciding to work with a Cash-For-Homes company, at least you’ll know you’re making a sound financial decision.

Overwhelmed by finding an agent? HomeLight would be happy to connect you with a top performer in your area today.

Wondering how a We Buy Houses for Cash company stacks up against working with a real estate agent? We’ve got you covered.

Example net proceeds

Let’s say your ranch-style home in Trenton, New Jersey, is currently worth about $393,000 and needs about $15,000 in repairs. Once the repairs are made, the home should be worth about $408,000.

Financially, it’s usually in your best interest to go with a top agent. However, depending on the condition of your home and any repairs needed, selling on the open market could be challenging.

House-buying companies can be a good alternative for New Jersey sellers in need of a quick exit from homeownership, but they’re not without drawbacks. However you choose to sell your home, it’s important to avoid making a hasty decision.

For best results, take the time to weigh your options, gather offers from multiple companies, and consider consulting with a top agent to see how easily your property could sell on the market. Whatever you decide, HomeLight would be happy to help with your real estate needs!

Contributing Editor Frances Metz assisted with this post.

Header Image Source: (Ryan Loughlin / Unsplash)