How Long Does It Take to Sell My House for Cash vs. the Traditional Way?
According to Redfin, there are nearly 30,000 homes listed for sale in New Jersey (as of July 2024) – which includes more than 10,000 newly listed homes and accounts for the nearly 9,000 that were sold.
On average, these homes will spend about 32 days (a little over a month) on the market.
Of course, that estimate doesn’t account for the time it takes to find real estate agents in your area, remodel, finish repairs, accept an offer, get the home appraised and inspected, negotiate, and finally close the deal.
So, how long does it actually take to sell a house in New Jersey?
- Selling a home the traditional way could take anywhere from one month to several months, depending on how long it takes to receive an offer and how smooth the negotiation process is.
- Selling a home for cash could take anywhere from a couple of days to a couple of weeks – especially since most New Jersey cash buyers (like us) are willing to move the needle quickly.
The traditional way is usually a longer home-selling process but it’s often the best way to maximize sale price. On the flip side, selling your home for cash won’t take nearly as long, but it often results in a lower cash sale price.
The 5 Stages of Selling a Home the Traditional Way
If you plan on selling your home the traditional way, the first step is finding a real estate agent you can trust – and the second step is figuring out what types of renovations and repairs are worth the investment.
A real estate agent can open the door to more potential buyers – and higher offers – while making the right renovations and repairs can maximize profit margins by increasing cash buyer interest and asking price.
Finding a real estate agent can take a couple of days, but repairs can take weeks (even months).
But that’s just the beginning of your journey. Once your home is ready to enter the market, you then have to go through the process of finding interested cash home buyers, receiving offers, and negotiating a final sale price.
Don’t worry – we’ll take a closer look at that process below, that way you’re prepared come sale day.
5. Listing the Property
The easiest way to reach potential buyers is by listing your home for sale on the MLS (which stands for Multiple Listing Service). This can only be done if you hire a real estate agent with access to the MLS.
Before listing your home, you’ll want to get a ‘comparative market analysis (CMA) from your real estate agent – which gives you an idea of how much your home is worth, compared to similar homes in the area.
4. Accepting an Offer
Whether you list the home yourself or have a professional do it for you, the goal is to start receiving offers for the home on day one. Realistically, it could take several weeks (or even months) to receive an offer.
And just because you’re receiving offers doesn’t mean you’re receiving the right offers. If you’re firm on your sale price, there’s a good chance you’ll need to wait before you get an offer you’re comfortable with.
3. Appraisal & Inspection
While we certainly recommend getting your home appraised and inspected before listing it for sale, you’ll likely need to go through that process a second time after a traditional buyer sends you their initial offer.
In fact, this is required by most mortgage lenders to ensure they’re not over-paying for a home that’s either not worth what it’s listed for or has more damage (and baggage) than what’s seen on the surface.
2. Final Negotiations
Now that the buyer has a better idea of what the fair market value is for the house (and is well aware of all the repairs needed before moving in), chances are they’ll want to negotiate or update their initial offer.
That doesn’t always mean they’ll want to change the sale price, but they might want to add contingencies to the offer – for example, they might ask you to cover the cost of all repairs before finalizing their offer.
1. Closing the Deal
Once you accept an offer, there’s still a lot of work to do – and a lot of paperwork that needs to be signed by all parties involved. As you can likely imagine, this process can take several days up to several weeks.
As much as you’ll want to rush through this step, we recommend taking your time to ensure everything is completed legally and properly. It might be tedious now, but it’ll certainly save you from a headache later — especially when those closing costs hit!
How to Sell Your House Fast in New Jersey
While thousands of New Jesey homeowners end up selling their home the traditional way every month, many others either don’t have the time, patience, or interest in waiting a month (or several months) to sell.
And that’s okay – that’s why people like us (NJ Cash Buyers) exist.
Whether you’re behind on mortgage payments, facing foreclosure, recently married (or divorced), or have a home that’s too damaged to sell on the open market, we can have an offer for you in under a week.
In fact, you’re just three steps away from receiving your cash offer:
- Send us information about your property and the condition it’s in.
- Schedule a time to meet with us (either in-person or virtually).
- Receive a free, fair, no-obligation cash offer within a few days.
Unlike most real estate investors, we’re interested in buying homes in any condition – no matter how old, beat up, and damaged it is. If you have a home for sale, then we’ll have an offer for you (even if you’re selling your house as-is).
NJ Cash Buyers: Sell Your Home Fast, Easy, & Worry-Free
Are you having a hard time selling your New Jersey home? Has your home been sitting on the market for more than a month? Are you only interested in listening to cash offers? Is your home heavily damaged?
If you answered ‘yes’ to any of those questions above, then you’ve come to the right place!
Welcome to NJ Cash Buyers – the fastest way to sell a home for cash in the New Jersey area.
Our turnaround times are 5x faster than other cash buyers. Our support team will have you counting your cash in as soon as a week after receiving your offer – so why wait any longer? Give us a call today!
Don’t hesitate to call or text us at (973) 791-6510, or send us an email at [email protected]— we buy houses in any condition and buy houses as-is (and yes, we even buy ugly houses)!