There are more than 2.6 million homes in the New Jersey community. And of those 2.6 million, anywhere from 7,000 to 9,000 are sold to a new owner every single month, according to ATTOM’s real estate data.
Most of those homeowners will sell their home the traditional way – by hiring a real estate agent and listing it on the Multiple Listing Service (MLS) – but that process could take between one and two months.
Unfortunately, not every homeowner can wait that long.
And some people might need to sell their home right away.
But what if we were to tell you there was another way to sell your home? And what if we said you could bypass the traditional process and opt for a quicker, easier, and less chaotic home-selling experience?
Well, that’s what selling your home ‘as is’ can do for you, and it’s exactly what we’re offering here at NJ Cash Buyers. Don’t worry – we’ll explain everything you need to know about the process down below.
What Does ‘Selling a Home As-Is’ Mean?
Selling a house ‘as is’ means the homeowner wants to sell the home in the exact physical condition it’s in – and the buyer is agreeing to accept the home in that condition, no matter how good or bad it is.
That means as is sellers won’t be remodeling, renovating, upgrading, improving, or staging the home in any way – and that includes fixing any minor or major repairs prior to opening the doors to potential buyers.
But not so fast – that doesn’t mean the seller is completely off the hook.
While the seller doesn’t have to make any repairs before selling the home, they do need to be transparent and open about any defects or issues with the home’s condition – as is the case with any traditional sale.
Likewise, potential buyers are still allowed (and encouraged) to order inspections before buying the home. And if they end up finding something during the inspection, they have every right to back out of the deal.
Reasons to Sell Your Home As Is
When most homebuyers hear the term ‘as-is,’ they immediately picture a home that’s tens of thousands of dollars (and several months, if not more) away from being livable and tolerable, but that’s not always true.
In fact, some homes being sold as-is aren’t in rough condition at all.
The truth is there are a lot of reasons why a homeowner might be selling as is, and it doesn’t always boil down to the condition the home is in – meaning the buyer isn’t always taking on a big risk.
With that said, let’s take a look at some of the most common reasons why people sell as-is:
- They don’t have the time for renovations or repairs (in a rush to sell)
- They inherited the home from family and want to sell in a hurry
- They don’t have the money to cover the costs of repairs or remodeling
- The damage would end up costing too much (eating away at their profits)
- They want a cash offer and are opting for an as is home sale to speed the process along
- They’re too attached to the home and don’t want to change it in any way
- They’re going through a divorce and need to sell the home right away
From the buyer’s perspective, they know they’re taking on more responsibility than usual, but it’s worth it if they can get a discount on the home – and if they already had plans of doing a renovation themselves.
How to Sell a House ‘As Is’ In New Jersey
In general, selling a home ‘as is’ won’t take as long or be as costly as selling a house the traditional way – but there’s still a few steps that need to be taken care of to ensure the as is sale happens legally and properly.
Avoiding any of these steps can result in bad deals and a lower sale price.
The good news is you can sell a property as-is without the added expenses that come with hiring a real estate agent – and while you’ll likely lose some money in the sale, you can still make it worth your time.
With that said, let’s take a look at the five steps you won’t want to skip when selling an as is property.
1. Consider Your Home-Selling Options
The first step is figuring out how you want to go about the home-selling process. You have several options – including hiring a real estate agent, listing it on the MLS, finding a cash buyer, and selling to real estate investors.
A real estate agent will take the longest, but selling to a cash buyer or house flipper can save some time.
The most important thing – no matter what option you choose – is to be up-front about the fact that you’re selling the home as-is. Make sure everything is in writing and the buyer is aware of your intentions.
2. Order an Inspection of the Home
Most homeowners selling their home as-is think they can avoid this step – and while you technically can (since the home buyer will do it anyway), it’s best to do it yourself so you have realistic expectations.
It’s also a good way to keep the buyer honest. Let’s say they order a home inspection and try to lie about something that was in the report to get a discount – it won’t work if you already had the home inspected.
3. Make Minor Repairs, If Profitable
One of the biggest reasons people sell their home as-is is to get out of having to make repairs and renovate the home. While you can technically skip this step, it may make sense to do some of the repairs.
It all comes down to how much the repair costs, and how that repair will affect the final sale price.
Let’s say the repair only costs $250, but you’ll see a much larger return on that investment once the repair is done – if you have the money to go through with it, then we recommend it to increase your profits.
4. Be Transparent With Potential Buyers
As buyers show interest in your property, it’s important to be up-front about the home’s as is condition – which means telling them anything you know about the home, what’s wrong with it, and what needs to be done.
If you can build a good rapport with the buyer, then they’ll be much more inclined to do business with you. Even if the home isn’t in the best condition, they’ll still be interested if they know what needs to be done.
5. Negotiate & Accept the Best Offer
Make sure you have realistic expectations when selling a home as-is. There’s a good chance you won’t find a potential buyer right away – and when you do, you’ll likely have to negotiate the price a little bit.
This should be expected – after all, the buyer is either taking on a bit of a risk or a bit of a project. Either way, buying your home is going to take more time, money, or both than buying one that’s move-in ready.
Contact NJ Cash Buyers for a Free Offer!
Are you having a hard time selling your home? Has it been on the market for more than a month or two? Is your home in desperate need of repairs that you can’t afford? Do you want to sell the home right away?
If you answered ‘yes’ to any of those questions, then don’t worry – we have a solution for you!
Welcome to NJ Cash Buyers – the quickest and easiest way to sell a home in New Jersey.
We have 22 branches around the world and have sold more than $120 million in homes (more than 3,000 homes) over the past 15 years. If you want to sell your home fast, we have the means to make it happen.
Contact us today at (973) 791-6510 or send us an email at [email protected] for your free, no-obligation cash offer. It’ll only take a few minutes of your time and you’ll have an offer in 24 hours!