Table of Contents

24 min read Jan 22, 2023

7 Best Companies That Buy Houses for Cash in New Jersey

Companies that buy houses for cash in New Jersey

The New Jersey real estate market is currently going through a tumultuous phase. While the median price of a house sold in the Garden State is up by 8.2%, going for $464,000, the average number of homes sold has decreased by 16.5% year-over-year. However, should you find yourself in need of an instant cash offer for your home, don’t let these statistics disappoint you.

There are two types of companies that buy houses for cash in New Jersey:

  • iBuyer CompaniesTypically offer 70% to 100% of the property’s fair market value. NJ iBuyers can have high service fees, and they don’t usually buy distressed or rented properties.
  • “We Buy Houses for Cash” Companies: Typically offer about 50% to 70% of the property’s fair market value. “We Buy Houses Fast for Cash” companies have no service or closing fees. They will also buy properties that are distressed or rented.

👉 Get Top Dollar Cash Offers On Your Terms: Major cash buyers, including Opendoor and HomeVestors, have submitted cash offers for homes listed on Houzeo. An MLS listing via Houzeo.com gives you maximum exposure to cash house buyers. List NOW!

Reviews: 7 Best Companies That Buy Houses for Cash in New Jersey

1. Houzeo.com

🎖️ Max Exposure to Cash Buyers

Houzeo

Houzeo Logo
  • Service Fee: $349 Listing Fee
  • Available in 80+ U.S. Markets
  • 5 Stars 4.9/5 (out of 4,434 reviews)

Houzeo is the best option if you’re looking for multiple cash offers. An MLS listing via Houzeo.com provides exposure to the max number of cash buyers. This includes Opendoor and Homevestors, who have recently submitted cash offers on Houzeo.

  • Service Fee – $349: Houzeo does not charge a 5% service fee or any undisclosed closing fee.
  • Maximum Cash Offer: Your property will get max exposure to cash buyers via the MLS. This includes major portals like Zillow, Realtor.com, and Redfin. All local and national cash buyers, including iBuyers, will be aware of your listing and compete for it.
  • Types of Properties: On Houzeo Marketplace, you can market properties in any condition and sell your house as is.
  • Flexible Closing Date & Offer Terms: You can specify and negotiate the cash terms you want for your closing.
  • Nationwide Coverage: Houzeo is available in 47 states across the U.S., so you can market to local cash buyers almost anywhere.

👉 Our Take: For sellers looking to maximize their cash offers, we recommend Houzeo’s Gold plan. It will get you maximum exposure to cash buyers via the MLS. You will also have Houzeo’s advanced features to negotiate the best terms for your cash offer.

» Houzeo Reviews: Learn why Houzeo is America’s Real Estate Super App

  • Near Nationwide Coverage: Houzeo covers 47 states + DC.
  • No Listing Agent Commission: With Houzeo, you only pay a small flat fee to get access to the MLS and all the Houzeo tech
  • 100% online: Easy listing, fast changes, online showings, and online offers
  • Max Exposure: Listings get syndicated to Zillow, Realtor.com, Trulia, Redfin, and 100s of other real estate websites
  • Fast Listing: Rush listing option gets you listed within a business day with Houzeo Concierge. This is best to sell your house fast.
  • Real Estate On the Go: Houzeo Mobile App mimics most functionality of the Houzeo web platform, including Offers and Showings
  • 5-Star Customer Service: Superb support that minimizes Houzeo complaints
  • No Hidden Fees: There are no Houzeo hidden fees

» Is Houzeo Legit: Learn more about Houzeo.com’s locations and services

Houzeo has a stellar rating of 4.9 out of 5 stars, with reviews on popular sites like Google & Trustpilot.

» Houzeo Reviews: Check out what customers have to say about Houzeo.com!

Houzeo is available nationwide with coverage in 200+ markets.

Best iBuyer in New Jersey

iBuyers, aka instant buyers, harness technology and market data to compute cash offers for homes in NJ.

Also called iBuyer companies, these companies that buy houses in New Jersey are changing how the “we buy houses for cash” industry functions. iBuyers have strict purchase criteria and are only available in limited locations.

» More: How Does Selling to an iBuyer Work?

2. Opendoor

📢 Select Markets Only: Opendoor only buys houses for cash in select markets of New Jersey but has strict purchase criteria.

BIGGEST IBUYER

Opendoor

Opendoor Logo
  • Service Fee: 5%
  • 📍 Coverage: 45 markets
  • Opendoor has 4.4 stars out of 5 4.4/5 (out of 3,066 reviews)

Opendoor is the country’s biggest iBuyer. They offer fast cash for homes and flexible closing timelines. Opendoor makes competitive offers, but these are far less than your property can get on the open market.

  • Service Fee: 5% of Home Sale Price
  • Typical Offer: 70% to 100% of Fair Market Value (FMV)
  • Types of Properties Purchased: Opendoor offers cash for houses only in desirable neighborhoods. If your property needs minimal repairs, Opendoor is an option for you. Otherwise, you may not even receive a preliminary cash offer from Opendoor.
  • Closing Date & Offer Terms: Opendoor provides a flexible closings, with dates up to 45 days out. Opendoor’s offers are not flexible, and final terms may change after home inspection.
  • Limited Coverage: Opendoor only covers 51 markets.

🚩 You Should Know: For the ease of a fast cash offer and flexible closing, you may pay up to 13% of your home’s sale price in service fees. Opendoor’s final cash offer is calculated after deducting home repair costs and closing costs.

👉 Our Take: Opendoor could be the best company to sell your house fast if they purchase properties in your zip code. Remember—an MLS listing on Houzeo.com will automatically put you in front of Opendoor and other iBuyers for an instant cash offer.

» Opendoor Reviews: Everything you need to know about America’s biggest iBuyer

  • Excellent for experienced home sellers with desirable properties
  • The repair cost breakdown isn’t disclosed in the offer
  • Not suitable for first-timers or FSBO sellers
  • The sales process may feel rushed, and the home seller has negligible control over the sale
  • The difference between Opendoor’s preliminary offer vs. final offer can be humongous
  • Home sellers receive cash offers within 24-48 hours, only on the properties that are in Opendoor’s coverage.

Opendoor has an average rating of 4.4 out of 5 stars on Reviews.io.

» Opendoor Review: Is Opendoor the best cash home buyer in 2023?

👎 Limited Coverage: Opendoor offers cash for houses only in 51 markets, and some of the top markets are Boston, Albuquerque, Cincinnati, Indianapolis, Birmingham, Modesto & Stockton, Galveston, Miami, San Francisco, San Jose, etc.

👍 Rankings of Local Cash Buyers: In case Opendoor doesn’t cover your zip code, you can consider local companies that buy houses for cash:

The 5 Best “We Buy Houses for Cash” Companies in New Jersey

“We buy houses for cash” companies are conventional, fast cash home buyers. They make instant cash offers for houses in NJ, even extremely distressed properties.

Usually a “franchise” network of real estate investors and local house flippers, cash home-buying companies offer as low as 30% of the home’s fair market value.

» More: How Do “We Buy Houses for Cash” Companies Work?

3. Halo Homebuyers

LOCAL CASH BUYER

Halo Homebuyers

Halo Homebuyers Logo
  • Service Fee: None
  • 5 Stars  5/5 (out of 54 reviews)

Halo Homebuyers is a New Jersey-based real estate solutions company that buys houses for cash. They aim to provide a transparent and professional home selling experience based on their extensive experience and track record.

Halo Homebuyers makes cash offers on houses in as-is condition, with the offer based on the style of the house, location of the house, size of the lot, renovations needed, exit strategy, etc.

  • Service Fee: None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Types of Properties Purchased: Halo Homebuyers offer cash on houses in any condition or situation including divorce, relocation, inherited an unwanted home, vacant house, behind on payment, and so on.
  • Closing Date & Offer Terms: Halo Homebuyers offers home closing timelines ranging from 7 to 30 days.
  • Limited Coverage: Halo Homebuyers offers cash on houses throughout New Jersey. Additionally, they offer cash for homes in Philadelphia, PA, and Bucks County, PA.

👉 Our Recommendation: Halo Homebuyers is an excellent choice for home sellers who want to sell their homes in as-is condition with flexible closing dates.

» How do I Sell My House Fast for Cash: Everything you need to know about selling your house fast

  • Get an offer in 24 hours
  • Close in as little as three weeks
  • They buy houses as-is so you don’t need to worry about repairs
  • The offer will be based on the style of the house, location of the house, size of the lot, renovations needed, exit strategy, etc

Halo Homebuyers has 5 out of 5 stars with 54 Google Reviews.

Halo Homebuyers offers cash on houses throughout New Jersey. Additionally, they offer cash for homes in Philadelphia, PA, and Bucks County, PA.

4. We Buy Ugly Houses

NATIONWIDE COVERAGE

We Buy Ugly Houses

We Buy Ugly Houses
  • Service Fee: None
  • Closing in 3 weeks
  • 2 Stars  2/5 (out of 6 reviews)

We Buy Ugly Houses is a 20-year-old cash home buyer brand owned by HomeVestors. With a tried & tested business model of buying homes for cash, the company typically caters to distressed home sellers looking for cash offers. Each office is operated by a local real estate investor independently.

  • Service Fee: None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Types of Properties Purchased: All types of ugly houses, i.e., distressed properties with structural issues, couples going through a divorce, a death in the family, bad mortgage financing, inherited houses, high-crime neighborhoods, etc.
  • Closing Date & Offer Terms: We Buy Ugly Houses provides a flexible closing date, up to 30 days out. Offer terms are inflexible, and some franchisee offices may use controversial tactics to close the cash home deal.
  • Limited Coverage: We Buy Ugly Houses covers 1,100 cities.

🚩 You Should Know: We Buy Ugly Houses independently operates on a franchise model, so the quality of service you receive depends on your location. Research the customer reviews of the franchise in your locality before accepting any cash offers.

👉 Our Take: This home-buying company is best for home sellers looking to close quickly and don’t expect a lot of cash for their house. Remember—an MLS listing on Houzeo.com will put you in front of cash buyers, increasing your chance of getting multiple offers.

» We Buy Ugly Houses Reviews: Everything you need to know about this cash buyer

  • Get a preliminary cash offer on a house in 24 to 48 business hours and close within 3 weeks.
  • We Buy Ugly Houses decides the cash offer based on local market sales & housing trends.
  • No need to prep the home for listing or worry about house repairs.
  • Pays less than what sellers could net on the open market.
  • Quality of service varies between franchises.
  • Controversial tactics for closing the sale.
  • If you can negotiate well or have a desirable property, the final cash offer could increase, but we don’t have any hard data about this.

👎 Poor Customer Reviews: We Buy Ugly Houses has 2 out of 5 stars with 6 reviews on Yelp.

👍 Houzeo Reviews: Houzeo is rated 4.9 out of 5 stars, with a 4.9 rating on Trustpilot and a 5.0 rating on Google.

We Buy Ugly Houses offers cash for houses in 45 states in 1,100 locations nationwide.

» Companies That Buy Houses: Check out America’s top cash home buyers

5. We Buy Houses

FAST CLOSING

We Buy Houses

Logo - We Buy Houses
  • Service Fee: None
  • Closing in 3 weeks
  • No credible reviews found.

Dealing with a cash buyer company like We Buy Houses (WeBuyHouses.com) is like selling your home to a local real estate investor. We Buy Houses “thoroughly” vets their investors before authorizing them to operate independent offices in their respective jurisdictions. This cash home buyer caters to distressed home sellers and is known to buy properties as-is.

  • Service Fee: None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Types of Properties Purchased: All kinds of ugly houses, i.e., distressed properties with structural issues, couples going through a divorce, a death in the family, flawed mortgage financing, inherited homes, high-crime neighborhoods, etc.
  • Closing Date & Offer Terms: We Buy Houses provides a flexible closing date, up to 60 days out. Offer terms are inflexible, but you can try negotiating for a better cash offer and terms.
  • Near-Nationwide Coverage: WeBuyHouses.com pays cash for houses in 2,700 cities nationwide.

🚩 You Should Know: We Buy Houses is a pre-vetted real estate investor network and operates on a franchise model. Some franchisee offices may use controversial tactics to close the cash transaction.

👉 Our Take: We Buy Houses operates franchises with independent, pre-vetted, local real estate investors. The quality of service depends on your location, so it’s best to check the customer reviews of the local We Buy Houses franchise before requesting a cash offer.

» We Buy Houses Reviews: Everything you need to know about WeBuyHouses.com

  • Get an offer within two days & close in just seven days
  • Private network of pre-vetted real estate investors
  • Once an offer has been made, there is little to no space for negotiation.
  • Most homes get paid less cash than the fair market value.
  • Only interested investors will evaluate your home full cash offer will be made for your house.
  • We Buy Houses’ final cash offer is usually in line with the preliminary cash offer unless the appraiser deducts anything during the home inspection.

👎 Zero Customer Reviews: We Buy Houses has no customer reviews on popular review sites like Google or Trustpilot.

👍 Houzeo Reviews: Houzeo has a stellar rating of 5.0 stars on Google and 4.9 stars on Trustpilot.

We Buy Houses makes cash offers on houses in 49 states with 2,700 offices nationwide.

6. HomeVestors

NATIONAL CASH HOME BUYER

HomeVestors

Logo - HomeVestors
  • Service Fee: None
  • Closing in 3 weeks
  • HomeVestors has 2.2 stars out of 5 2.2/5 (out of 5 reviews)

HomeVestors is a nationwide network of real estate investors operating franchise offices autonomously nationwide. This cash home buyer company is the parent brand of We Buy Ugly Houses and caters to distressed home sellers. Each office is operated by a local real estate investor independently.

  • Service Fee: None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Types of Properties Purchased: All types of ugly houses, i.e., extremely distressed properties with structural issues, couples going through a divorce, a death in the family, bad mortgage financing, inherited houses, high-crime neighborhoods, etc.
  • Closing Date & Offer Terms: HomeVestors provides a flexible closing date, up to 30 days out. Offer terms are inflexible, and depend on the local real estate investor of your region.
  • Limited Coverage: HomeVestors covers 45 states with 800 franchise offices.

🚩 You Should Know: HomeVestors is known for its lowball cash offers. Before requesting a cash offer from them, you should review the local home sales data and find the market value of your house. The final proceeds are around 50% to 55% of the home’s fair market value after the deduction of anticipated repair costs.

👉 Our Take: This cash buyer company is best for home sellers looking to unload an extremely distressed house quickly and don’t mind getting half of their home’s worth. Remember—an MLS listing on Houzeo.com will expose your property to nationwide cash buyers, and increase the chance of getting multiple offers.

» HomeVestors Reviews: Everything you need to know about the cash house buyer network

  • Get a preliminary cash offer in 24 to 48 business hours
  • HomeVestors decides the cash offer based on local market sales & housing trends
  • Close in as little as three weeks
  • No need to prep the home for listing or worry about repairs
  • Pays less than what sellers could net on the open market
  • Quality of service varies between franchises
  • Controversial tactics for closing the sale
  • If you can negotiate well or have a desirable property, the final cash offer could increase, but we don’t have any hard data about this.

👎 Poor Customer Reviews: HomeVestors has 2.2 out of 5 stars with 5 reviews on Better Business Bureau.

» HomeVestors Review: Is HomeVestors the best cash buyer company in 2022?

HomeVestors has near-nationwide coverage in 800 independently owned franchise offices in 45 states.

7. Express Homebuyers

As-Is Cash Home Buyer Network

Express Homebuyers

express homebuyers logo
  • Service Fee: None
  • Express Homebuyers has 4.2 stars out of 5  4.2/5 (out of 105 reviews)

Express Homebuyers is a real estate investor network that makes all-cash offers on all types of properties, even condemned homes. This home buying company is best for home sellers that don’t wish to prep their homes or do repairs as they buy properties “as-is.”

  • Service Fee: None
  • Typical Offer: 50% to 70% of Fair Market Value (FMV)
  • Types of Properties Purchased: All houses, i.e., distressed properties with structural issues, condemned properties, couples going through a divorce, a death in the family, bad mortgage financing, inherited houses, high-crime neighborhoods, etc.
  • Closing Date & Offer terms: Express Homebuyers doesn’t have strict offer terms and the company has purchased homes for cash in under 7 days, with up to 30 days out.
  • Limited Coverage: Express Homebuyers only offers cash for houses in 27 states.

👉 Our Take: If it covers your area, Express Homebuyers is great to unload an extremely distressed property. However, if your house needs minimal repairs only, then you should consider listing on the MLS.

» Express Homebuyers ReviewsIs there really no service fee?

  • Free, no-obligation offer for damaged properties as well
  • Express Home Buyers presents a cash offer within 24 hours.
  • Closing dates can be finalized on the owner’s terms.
  • Express Homebuyers partners take anything between 7-30 days to close the deal.
  • ExpressHomebuyers has no service fees, or closing costs.
  • You save repair costs as they offer all cash offers for “as-is” houses.

Express Homebuyers has a rating of 4.2 out of 5 stars on Google.

» Express Homebuyers ReviewCheck out exclusive Express Homebuyers customer reviews

Rankings: 5 Best Home Buyer Companies in NJ

CompanyPotential Offer Price*Service FeesClosing Time100% Online5-star Reviews**Mobile App
1. Houzeo.com100% of Market Value$349 Flat Fee7 to 60 days
2. Opendoor90% to 100% of Market Value5% of Sale Price14 to 60 days
3. Halo Homebuyers50% to 70% of Market ValueNone7 to 30 days
4. We Buy Ugly Houses60% to 80% of Market ValueNone7 to 60 days
5. We Buy Houses50% to 80% of Market ValueNone7 to 30 days
6. HomeVestors50% to 70% of Market ValueNone7 to 30 days
7. Express Homebuyers70% to 80% of Market ValueNone7 to 60 days

*An MLS listing via Houzeo exposes your home to the open market. The open market will almost always be more competitive than offering your house to a single potential cash home buyer.

** For 5-star Customer Reviews, ratings above 4.75 out of 5 stars have been considered. Houzeo has rated 5.0 stars on Google Reviews and 4.9 stars on Trustpilot.

Are Companies That Buy Houses for Cash in New Jersey Legit?

Yes, cash house buyers in New Jersey are legitimate and operate legally nationwide.

However, no industry is free from scammers or companies following the “malign practices” that exist in every sector. Never pay any money while requesting an all-cash offer on your house.

Browse through customer reviews and inspect how the company operates before signing any documents.

Understanding Cash Home Buyers in NJ

Companies that buy houses for cash in New Jersey include institutional cash home buyer companies, house flippers, and local real estate investors. They make all-cash offers on homes and typically pay 70% to 90% of the home’s fair market value.

New Jersey cash home buyers don’t negotiate the offer, leaving little room to get 100% of your home’s market value.

💲Cash for My HouseList on the open market with Houzeo.com and get 100% Fair Market Value of your property.

Types of Cash Home Buyers

Home-buying companies in NJ help sellers skip the hassle of listing on the MLS, staging a home to sell, etc. Two types of home buyers make cash offers on homes for sale:

1. “We Buy Houses for Cash” Companies: Lowball Cash Offers But Zero Service Fees

Cash house buyers in New Jersey buy distressed properties as-is and typically pay 30% to 70% of the home’s fair market value. We recommend “We Buy Houses Fast for Cash” companies for homeowners with inherited homes that need extensive repairs, homes with structural issues or facing foreclosure or the homes of couples going through a divorce.

Companies like HomeVestors and We Buy Houses are “franchise” networks of pre-vetted real estate investors. Every office is operated autonomously by investors buying homes for cash. This network includes retail cash home buyers, local house flippers, and nationwide investors.

» Selling an Inherited House in New JerseyCheck out our guide if you want to sell your family home.

2. iBuyers: Fair Cash Offers But Hefty Service Fees

Companies that buy homes for cash with instant non-negotiable offers are calculated based on the property’s location, house condition, required repair costs, calculating ARV (After Repair Value), etc. You get 70% to 90% of the home’s fair market value.

Unlike cash buyer companies that compare local sales data and rely on in-house experts, NJ iBuyer companies use proprietary algorithms to compare millions of historical pricing trends to determine a competitive cash offer price. Opendoor offers the most cash compared to other iBuyers, while Offerpad is known for its fast closings.

» More: How Does Selling to an iBuyer Work?

How Do I Sell My House Fast for Cash in New Jersey?

Listing on the MLS is the fastest way to get instant cash offers from “cash for houses” companies. Companies that offer cash for houses in NJ and local real estate investors are always scouring the MLS for properties. To sell your house fast for cash, you can also consider the below tips:

  • List on the MLS
  • Pricing your home competitively
  • Offering a competitive buyer agent commission
  • Responding fast to inquiries, showings, and offers

» How Do I Sell My House Fast for Cash: Here’s a guide to help you sell your home fast

Should I Sell My House As Is?

Selling “as is” means putting your house for sale in the existing condition without any upgrades or improvements. Home sellers choosing to sell their homes as-is are usually in unprecedented situations like a financially difficult situation or need for impromptu relocation. There are many “We Buy Houses for Cash” companies that buy houses in any condition.

» Sell My House Fast for Cash New Jersey: Here’s a guide to help you sell your home fast for cash in New Jersey.

Should I Sell My New Jersey House As Is?

Selling “as is” means putting your house for sale in its existing condition without any upgrades or improvements. Home sellers choosing their homes as-is are usually in unprecedented situations like a financially difficult situation or need for impromptu relocation.

» Selling a House As Is in New JerseyCheck out our guide to selling your house as is.

Selling a House to an iBuyer in New Jersey

When selling a house to iBuyers, technology and data go hand-in-hand to calculate your home’s worth. While each iBuyer may have different ways, this is what typically happens when selling properties to an NJ iBuyer company:

  • Step 1 – Submit information about your home: iBuyers collect information through an online form or over the phone. Sellers need to share the property’s location and basic details of the house.
  • Step 2 – Receive a preliminary cash offer: After an initial evaluation to check if your house passes its eligibility criteria, you usually get a preliminary cash offer. Usually, this offer is a take-it-or-leave-it deal.
  • Step 3 – Complete a home inspection: An onsite visit is scheduled if you accept the preliminary cash offer. The representative will assess your property.
  • Step 4 – Review final cash offer: Repair costs and expenses are adjusted in the preliminary cash offer. Then, the iBuyer sends a final cash offer for the house.
  • Step 5 – Close the deal: iBuyers provide more flexibility on the closing schedule. You may be able to close within 7 days!

👉 Know Your Home’s Worth Before Selling to an iBuyer: Even if your property is eligible for iBuyers, getting an estimate from a local realtor is always a good idea about how much your home could sell for on the open market.

» iBuyer Reviews: Check out our rankings for the top iBuyers and marketplaces in 2023!

Which Homes Qualify for Most New Jersey iBuyers?

iBuyers only offer cash for houses that qualify their purchase criteria. Typically, these criteria are similar for major iBuyers like Opendoor and Offerpad:

  • Home types: Single-family homes, Townhouses, Duplexes, Condominiums
  • Year built: After 1930
  • Lot size: Maximum lot size of 1–2 acres, depending upon market
  • Value: Between $100,000 and $600,000 (can be as high as $1.4 million in some markets)
  • Occupancy: Owner-occupied only

iBuyers have made exceptions in some markets, so it’s best to request a cash offer from an iBuyer that buys homes in your locality.

👉 Cash for Distressed Properties: Houses listed on the MLS receive offers as long as one can reside in them after purchase. Even distressed properties may get better cash offers when listed on the open market.

How Much Do iBuyers Pay in New Jersey?

As high as 104.1% and as low as 70% of the property’s fair market value. However, iBuyers are ideal for you only if you have a pretty house that needs minimal or no repairs.

👉 iBuyers Offer Cash for Houzeo.com Homes: iBuyers like Opendoor and Offerpad have made full cash offers on the properties listed on Houzeo. Increase your chances of meeting an iBuyer with a free listing on Houzeo.com. Start NOW!

How Much are iBuyer Fees in New Jersey?

The hassle-free convenience of iBuyers comes at the expense of service fees. Typically, you can expect the final service fees to be around 10% to 18% of the home’s sale price.

iBuyer fees primarily depend on the property’s condition and location. If you have a decent house that needs minimal repairs in a desirable neighborhood, then the service fees will be around 5% to 7%.

👉 Pro Tip: If you list with a Flat Fee MLS website, you save 50% commission right away. You only have to pay 2.5% to 3% of the home’s sale price to the buyer agent. This is much lower than closing costs associated with iBuyers, which can be as high as 18% of the home’s sale price.

» How to Calculate Closing Costs for Seller in New JerseyBreak down the closing costs you incur as a NJ home seller.

✅ Pros of Selling Your House to an iBuyer

  • Instant Cash Offer & Sale: iBuyers make an instant cash offer, usually in 24-48 hours. If you accept it, iBuyers move fast to close on the property. You skip the annoyance that comes with a traditional home sale.
  • Fast Closing: There is no listing or wait for potential buyers. When selling to an iBuyer, you skip the hassle of a traditional home sale and get quick cash for your house.
  • Certainty of Sale: iBuyers are home-buying companies with enough finances. So, the chances of your home sale falling through are less than selling your home with a realtor.
  • No Upfront Costs: A home seller must spend on house repairs, home staging, etc. when listing on the open market. These costs get eliminated when you sell to an iBuyer.

❌ Cons of Selling Your House to an iBuyer

  • Non-negotiable Cash Offers: When dealing with iBuyers, the cash deal is usually take-it-or-leave-it. Although there may be room for negotiations, you can’t expect more than 95% of the market value of your home. Because iBuyers have to sustain their business model with the re-selling profits, they usually provide final offers.
  • Limited Coverage: iBuyers purchase homes in the markets they operate in. So, selling to an iBuyer is not a choice for most Americans. You won’t stand a chance if your property lies outside their coverage.
  • Strict Eligibility Criteria: There are specific prerequisites a home must adhere to for an iBuyer to buy it. Most iBuyers only offer cash for houses built post-1930 or less than 1.5 acres. Because of the stringent purchase criteria, distressed homes don’t qualify for sale.

🏡 All the Benefits and No Trade-offs


Houzeo is the fastest way to list on the MLS and get maximum cash for your house.


START YOUR MLS LISTING NOW

How Do “We Buy Houses for Cash” Companies Work in New Jersey?

“We buy houses fast for cash” companies in NJ are cash buyers that purchase houses “as-is”, and at a much lower rate than the market price. These real estate cash buyer companies mostly work offline, and their target audience is distressed home sellers.

Let’s take a look at how the home sale would be with a “We Buy Houses for Cash” company:

  • Step 1 – Share details about your house: Most cash buyer companies will collect basic information via phone or online. Sellers have to share location and property condition.
  • Step 2 – Review the preliminary cash offer: After an initial assessment of your property, the home-buying company will make a non-negotiable cash offer.
  • Step 3 – Complete a home inspection: An onsite visit is scheduled if you accept the initial offer price. A third-party inspector or a local firm representative will complete the onsite inspection. Your final offer will be modified proportionately if any essential repairs are required.
  • Step 4 – Accept the final cash offer: After adjusting repair costs and expenses, the cash home-buying company sends a final cash offer. You only need to accept, sign a purchase agreement, and schedule closing if it satiates your ideal requirements.
  • Step 5 – Close on your schedule: “We Buy Houses for Cash” companies can pace up the process and provide more flexibility on timing. You don’t have to wait for a bank to subscribe to a mortgage. In some cases, you may be able to close just within ten days.

» Home Inspectors New Jersey: What do inspectors look for when inspecting a home in New Jersey?

How Much Do Home Cash Buyers in New Jersey Pay?

Companies that buy houses for cash in New Jersey often use the 70% rule.

That means they’ll pay no more than 70% of your home’s market value. Sometimes, home repairs are required, and some cash buyer companies deduct these overhead expenses from your sale proceeds.

Cash Offer = (Market Value of Your House x 70% Offered) – Repairs Costs

Let’s say your home is worth $300,000 at fair market value but needs $25,000 in repairs. Then you might expect a cash offer of only $185,000 from the cash home buyer companies.

You can wait and list your home with a professional real estate agent if you have a capital of $25,000 to spend on repairs. That’s the open market, so you may get a deal worth as much as or more than your home’s current market value.

Some cash home buyers are willing to pay less than 70% of the home’s value after renovations/repairs. We recommend requesting cash offers from multiple cash home buyer companies, with no obligation to close with them. If you want to sell your house fast for cash, it is important to look at multiple options.

» Cash for Houses: Check out the top 15 companies that offer cash for houses in 2023’s slow market.

“We Buy Houses for Cash” Companies in New Jersey: Pros and Cons

✅ Pros

  • Fast Cash Sale: In the traditional model, you have to list on the MLS and wait for potential buyers. With “We Buy Houses for Cash” companies, you get a cash offer within 24-48 hours of submitting details on their website.
  • Flexible Closing: “We Buy Houses for Cash” companies move faster than others because there is no longer a need to wait for mortgage approval or listing paperwork. Many companies provide a one-month closing guarantee or up to two weeks.
  • No Service Fees: “We Buy Houses for Cash” companies acquire your home as-is and don’t charge any service fees. Their lowball offers are enough to recover profits by reselling your property after anticipated repairs.
  • No Upfront Costs: Whether they choose a traditional real estate broker or a Flat Fee MLS company, a home seller incurs costs while listing the house and prepping for sale. Since “We Buy Houses for Cash” companies in NJ acquire your home as-is, you don’t have to spend a dime. Required repairs, curb appeal, upgrading furniture, and staging are some elite expenses you avoid when you choose companies that buy homes for cash.

❌ Cons

  • Non-negotiable Cash Offers: When dealing with “we buy houses for cash” companies, the deal is usually take-it-or-leave-it. Although there may be room for negotiations, you can’t expect more than 70% of the market value of your home. If you feel the company overlooked something important, some will allow you to make your case and submit additional evidence to support it; however, most will be unwilling to budge on price.
  • Lowball Offers: “We buy houses for cash” companies generally pay 50% to 70% of the home’s fair market value, deducting all repair, utility, and re-selling expenses. Since they want to sell this home on the open market, they will offer you marginal prices so that they get a profit when they resell.

We Buy Houses for Cash Scams

Cash home buyers in New Jersey are legitimate, but there are scammers in every industry, and that’s how cash for houses scams work. Some common “cash for houses” scams are:

  • Fake “We Buy Houses for Cash” Ad: Scammers post signs and blast emails with a “we buy houses for cash” ad. Families in need of liquid cash or struggling to make their mortgage payments fall for this and end up signing property-related documents in a hurry to close the cash transaction. “Cash for houses” companies lease the property to a new tenant, and the owner is still responsible for making the mortgage payments, but they have lost control of their house.
  • Re-assignment Clause in Listing Agreement: In some states, cash home buying companies have made home sellers sign a listing agreement with a “reassign” clause. Essentially, this means the seller is permitting somebody else to take control. Home sellers who fall into this trap lose the right to sell their own house!

⚠️ Don’t get lured by such deceptive cash home buyers: Thoroughly investigate the company before signing any legal documents related to your house. Even title insurance coverage may not be able to save you from such scammers!

Selling to Local Real Estate Investors in New Jersey

Selling to local real estate investors in New Jersey directly is an option if you don’t want to work with a cash home buyer. Real estate investors are always searching for properties. These real estate cash buyers, also called retail cash house buyers, can be classified as:

  • House Flippers: buy a property, renovate, and resell the property on the open market.
  • Landowners or Landlords: buy a property, renovate and rent the property.

You can find such investors in New Jersey through online forums or in-person meetups. Real estate investors often purchase the property as-is and drive a hard bargain to acquire homes for less than the fair market value. It’s best to do a comparative price analysis and find how much your property is worth before you deal with local real estate investors.

🏘️ New Jersey House Flipping: Is flipping houses still profitable in 2023’s slow market?

Selling a Home in Poor Condition in New Jersey

Having a structurally unsound property with obnoxious items lying around can tempt you to sell your house to a “We Buy Houses for Cash” company. You get to skip on the repairs and expensive upgrades but may lose the chance to get better offers on the open market.

A real estate agent can help you deal with an unwanted property without compromising the sale price and opting for a low-ball offer. Your property directly gets exposure to 90% of potential buyers with an MLS listing. On an open market, you have the chance to get maximum cash for your distressed home.

What About Selling My House with a New Jersey Real Estate Agent?

It depends!

Listing on the MLS increases the chance of a competitive cash offer. However, opting for a real estate agent to get on the MLS would defeat the purpose of maximizing your cash offer.

Opting for a real estate agent will not save your 6% commission and might be the worst option if you want to earn maximum cash. With a Multiple Listing Service New Jersey like Houzeo.com, listing your house on the MLS can be done effortlessly at just $349! You save on the 3% listing agent commission by selling your home as an owner.

✍️  Note: Cash home buyers like Opendoor and Offerpad have offered cash deals for properties listed on Houzeo.com

Should I Sell My House to a Company That Buys Houses for Cash in New Jersey?

Most home buyers purchase homes with a mortgage. Selling for cash will almost always net you between 10% to 30% less than a financed offer.

We recommend you sell for cash in New Jersey only in select circumstances.

  • If You are on a Severely Tight Timeline: If you’re going through a rough patch in your life, such as a divorce or an immediate move, cash home buyers or real estate investors can help you sell faster.
  • In Case You Need to Sell an Inherited Property: Selling to a company that buys houses for cash can be a viable option if you have a deceased relative’s property far away or in terrible shape.
  • You are in Urgent Need of Cash: If you’re in a hurry, facing foreclosure, and don’t want to keep your property, selling your house for cash could help you escape a credit impact.
  • You Own a Distressed Property: Most banks will not finance a property in poor condition. If your property is in poor condition, selling your house for cash is a good choice.

Listing on the MLS would be ideal if you can hang in for a while. With high-tech FSBO sites like Houzeo.com, you can start your listing process on any device and finish all the paperwork seamlessly.

💲Market to the Biggest Pool of Cash Home Buyers!


Houzeo is the fastest, high-tech way to get on the MLS and sell to cash home buyers.


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Alternatives to Companies That Buy Houses for Cash in New Jersey

1. Listing Your Home with Flat Fee MLS Service

Listing with a Flat Fee MLS service gets your property on the market within just 24-48 hours. Flat Fee MLS is the best way to sell your New Jersey house fast, and has 4 significant benefits:

  • MLS is the fastest way to hit the market, plus your listing is syndicated to Zillow, Realtor.com, etc.
  • Your property listing gets maximum exposure.
  • You can negotiate all offers.
  • You skip paying commission or service fees.

👉 Flat Fee MLS NJ: List on your local New Jersey MLS within 24 to 48 hours for just $349!

2. Hiring a top Real Estate Broker

Top real estate brokers have the expertise to help you sell your property fast within a set timeline. Most of the work is handled by the broker, which makes home selling hassle-free.

But the downsides are just as huge. Best realtors will charge between 5% to 7% commissions. That amounts to thousands of dollars in commission you will be paying. Additionally, even with the best low commission realtor, you may get no technology tools, and their service quality can be unpredictable.

👉 We recommend selling with a real estate broker only if you are not tech-savvy or concerned about FSBO paperwork. 

» Best Real Estate Brokers in New JerseyCheck out New Jersey’s top brokers, their services, and commission

3. Sell By Owner

Selling your home purely FSBO implies that you won’t get access to the MLS. You market your property, conduct market research, handle offers, manage showings, etc., all by yourself.

77% of FSBO home sellers closed on their homes within two weeks because the homes were sold to someone the seller knew. The most significant disadvantage of selling with no MLS or tech support is that you probably may not be able to sell your home quickly.

» New Jersey FSBO: Here’s how you can sell your home yourself if you have a buyer lined up to buy your property.

Eager to Know How Houzeo Works?

We’ve got you covered. Check out the following video to understand how Houzeo works and why it is one of the best free websites to list for sale by owner in the U.S.

What is Houzeo?

An overview of what the platform is all about

Start Your MLS Listing NOW!

» NEED MORE CLARITY? Read these exclusive Houzeo.com reviews and learn why it is one of the best FSBO sites in America.

Resources for Selling Your New Jersey Home

Frequently Asked Questions

1. What is the best company that buys houses for cash in New Jersey?

Houzeo is the most popular platform for sellers looking for companies offering cash for homes in New Jersey. Not a cash buyer themselves, Houzeo.com lets you access the power of the MLS for a small flat fee, giving you exposure to cash home buyers. iBuyers, including Opendoor, have also made offers on properties listed on Houzeo.com.

2. How do you sell a house to a cash buyer in New Jersey?

List your home on Houzeo.com for multiple cash offers. You can also offer it to Opendoor or another cash buyer in New Jersey. You’ll then receive preliminary cash offers. You must ensure the offer meets your minimum requirements after adjustments for inspection and any service fee. Once you’ve accepted the offer, you can select your closing date.

3. Are "we buy houses for cash" companies in New Jersey legit?

Yes! Many companies like We Buy Ugly Houses offer cash for houses in New Jersey. And these companies are legit, with franchises across the nation. However, cash buyer scams are common in America, so you should always research the company before signing any official documents. You can also check customer reviews on sites like Google and TrustPilot. We also recommend you get a lawyer to review the contract before signing.

4. How long does a cash sale on a house in New Jersey take?

Approximately, anywhere between 7 to 30 days, depending on the buyer and the specific situation of the sale. iBuyers like Opendoor and Offerpad can close as quickly as 10 business days.

5. Do “We Buy Houses” companies in New Jersey make fair offers?

Yes! iBuyers will offer up to 100% of the fair market value of your property. Local “we buy houses for cash” companies in New Jersey will typically offer less - 50% to 70% of the fair market value. Listing your home on a marketplace, like Houzeo.com, will get you exposure to iBuyers and local investors. This significantly increases your chances of maximizing your cash offer.

6. Why is a cash offer better in real estate?

Cash offers provide more certainty than offers that include financing. There are typically no financing contingencies, and the closing can be fast. Many cash buyers will also waive inspections. Finally, once you have verified the buyer’s proof-of-funds, the risk of the sale falling through because of the loan not funding is eliminated.

7. How can I sell my house fast for cash in New Jersey?

With an instant cash offer, you can sell your house fast for cash in New Jersey. Many cash buyers purchase homes and try to offer a fair deal, about 50% to 90% of the house's market value. “We buy houses for cash” companies are best for distressed properties, while iBuyers have strict purchase criteria. Choose a company as per your requirements and timeline.

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