14 min read Jun 24, 2022

Selling A House AS IS In New Jersey: Here’s How To Do It

✍️ Editor’s Note: U.S. real estate market is hotter than ever. Even the houses sold as-is are attracting offers same as the regular sales. Here’s Houzeo’s guide to selling your house as-is in New Jersey.

» SAVEAmericans have listed $3.5 billion worth of properties on Houzeo.com in 2021. Start your FREE listing NOW!

As of March 2022, median home prices in New Jersey are up by 2.3%. One of the ways to leverage this growth is by selling your house as-is in New Jersey.

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What Does “As Is” Mean in Real Estate?

“As is” in real estate transactions means the buyer gets the property in the existing condition. This indicates that the buyer is willing to accept a home with soiled carpet, a leaking roof, and faded paint, among other flaws. However, “as is” is a legal term that refers to an unconditional agreement to disclose information about the property’s current condition. In a real estate contract, it is sometimes referred to as “as is, where is.”

In such cases, the homeowner should honestly disclose any defects in the home’s condition – also known as “Caveat Emptor,” or “let the buyer beware.” Furthermore, to avoid unethical business practices, real estate agents must maintain confidentiality to speak candidly about flaws. Alternatively, they could be prosecuted under Chapter 93 of the Consumer Protection Act.

Can you Sell a House As Is in New Jersey?

Yes, you can sell your house as-is in New Jersey. You should follow the steps provided by your agent to ensure that any special circumstances in your transaction are reflected in the contract.

New Jersey real estate contract mentions provision of buyer accepting the house as is. It has to be duly filled by the sellers while selling their property.

Before we talk about selling a home as-is in New Jersey, let us take a look at some important pointers from NJ real estate perspective:

Number of home salesNearly 158,874[1]
Typical home valueNearly $430,016[2]
Average number of days on market85 days [3]
% of buyers who purchased a new home 34%[4]
The average commission for real estate agents in New Jersey5%-6%
% of sellers who opted for real estate agents87%

[1] In the year 2021

[2] From Feb 2021 to March 2022

[3] As per New Jersey REALTORS yearly report 2021

Benefits and Risks of Selling a House As Is in New Jersey

Key Benefits of Selling a Home As Is in New Jersey:

Save Huge FortuneHome renovations can be quite costly. You won’t have to spend a lot of money—or worse, go into debt—on substantial repairs or modifications, which can cost up to $150 per square foot if you sell as is.
Property Is Sold QuicklyApart from the costs, remodeling can take a long time before you can sell your home. These steps are optional. Furthermore, there is no need to stage the home for showings.
Reduce Inspection BargainsIf you’re selling a home as-is, you can tell potential buyers how much you’re willing to spend on repairs ahead of time. This will make the closing process less stressful.
Avoid stress and hassles of the processYou have the option of selling your house to cash companies when selling it as-is. It will only help in saving time but not money. When selling to a cash company, they offer very low ball offers. You also won’t have to deal with a real estate agent or haggle over other costs.

Key Drawbacks of Selling Your Home As Is in New Jersey:

Negative assumptions about the propertySelling as-is may give prospective buyers a negative impression of the property. They assume your house has significant flaws, which isn’t always the case. This influences the price it commands.
Most potential buyers offer lessBecause buyers believe you’re desperate and your home has major flaws, they’ll most likely offer less than it’s worth.
Difficult to find buyersWhen you sell your home as-is, you’ll appeal to flippers and buyers who are willing to make minimal modifications — a fixer-upper opportunity. Finding such buyers can be difficult due to their small numbers.
Repairs cannot be avoided completelyIf you want to sell a home as-is, you are not free from performing repairs. Buyers will try to bargain over repair costs. You will be the one to decide how to continue. Consider a buyer who will give you a good price in return for some minor repairs.

New Jersey Real Estate Contracts

A New Jersey Residential Purchase and Sale Agreement is a legally enforceable contract that covers both parties in a residential property transaction. The “seller” and “buyer” will negotiate the details of the agreement with the help of their broker, agent, or realtor.

Buyers have the option of purchasing the property as is or requesting that the seller make certain renovations at their expense.

Just because you are selling your house as is, buyers are not precluded from examining the property, negotiating repairs or treatments in future revisions, or terminating the contract within the option period.

What if You as the Seller Want to Back Out of an “As Is” Offer?

Sellers withdrawing from the “As Is” offer is not included in the real estate contract. Contract simply specifies how and when it can be ended and who receives the earnest money and option fee.

Always consult an attorney and a licensed real estate agent or broker before opting out of a contract.

What if Contracts do not Contain Provisions for an “As Is” Sale?

In case your real estate contract is not “as is” you can bargain with buyers to waive any inspections, appraisals, or survey requirements.

Furthermore, you can request a large deposit (Earnest money plus Option Fee) so that if the buyer backs out, they would lose a big amount of money.

Things To Consider Before Listing Your House

You need to keep a few things in mind when selling their house as-is or otherwise in New Jersey. This includes the following:

Best time to sellSelling your house at the right time can fetch you the best possible deal. Summers is the best time to sell your house in NJ “as is”. For example, selling your house in Toms River in August can fetch 6.69% more than the yearly average. Similarly, selling your hose in Princeton in July can help you earn 6.05% more.
Pricing your house competitivelyPricing your house right is half the battle won! Competitive prices will not only help you in attracting more buyers but also the correct ones with whom negotiating the final price won’t be very difficult.

You can also opt for Comparative Marketing Analysis (CMA) usually offered by real estate agents in New Jersey. If you are selling your house by owner in New Jersey you can create your CMA with Zillow or Redfin.

» More: How to Price Your Home For Sale in 6 Steps
Knowing seller disclosure obligations (More)While selling a house as is in New Jersey, you are expected to fulfill the Seller’s Disclosure Notice. It is a standard form in the form of a checklist wherein you have to disclose various facts about your New Jersey property.

» More: Sellers Disclosure New Jersey: A Guide To Ace Your Disclosure Process
Creating property description Creating an appealing property description is very important. It can help in luring buyers toward your New Jersey home. You can include important things like renovations, historical significance, any special features like the name of the renowned architect, etc. Your property description should reflect how your house stands apart from other houses in New Jersey.
Prepping your house for saleA few steps taken to ready your home can go a long way in impressing potential buyers. Making modest repairs (flooding is not unusual in New Jersey), such as repairing your roof, decluttering and depersonalizing your home, repairing your HVAC systems.

How To Sell As Is in New Jersey?

You follow the same steps to sell your house as-is in New Jersey as you would for a regular home sale. However, selling a house as-is necessitates a different marketing strategy.

Marketing with a Fixer-Upper

Marketing an as-is home as a fixer-upper can help you attract more potential buyers.

Here are a few fixer-upper marketing techniques you can use:

Highlight the PositivesYou can talk about the amenities located nearby, like the nearest school district. Nowadays, buyers are looking for eco-friendly and energy-efficient homes. If you have low-flow appliances and energy-efficient lighting, bring them to the buyer’s notice.
Appropriate PricingYou should be very practical when pricing a property meant for selling as is. Remember to take pros as well as cons when finalizing the price.
Maintain TransparencyBeing upfront and honest about the defects present will create trust and enhance your credibility as a seller. Also, while selling your house you need to mention in your Real Estate Contract that you are selling as-is.
Select Right WordWhen preparing a property description for your home ensure to include eye-catching words without over-exaggeration.
    💡 FACT: In real estate, fixer-uppers are properties that require repair and are therefore sold as-is. The lower purchase price, lesser competition, and quality control are a few of the reasons behind their popularity.

Identify and Fix “Deal Killers”

Even when putting your New Jersey home for sale as is, you have to fix a few things. This includes glaring problems that the buyers may not overlook and can kill the deal.

Some of the very glaring defects you need to fix are:

Damaged FoundationA weak foundation of a house can be a very big turnoff for buyers as it poses a direct threat to the residents. Foundation repairing costs around $3,500 to $6,000 in New Jersey.
Termite InfestationTermite infestation is a very common problem in the USA and it can easily turn buyers away even when buying a house as-is. Thus, it is important to conduct a termite treatment for your house. Termite treatment in the USA on average costs about $575.

📝 Note: Termite treatment costs in New Jersey are higher as Subterranean termites are more common here.
Ancient RoofIf your roof has some minor problems like leakage, it is best to get it repaired. Also, flooding is common in New Jersey so it is best to get your roof repaired.

House roof repair costs range from $150 to $7,000. It depends on the type of roofing material, level of damage, etc.

Fill Out Seller Disclosures

Even when selling your house as-is, you need to fill out seller disclosures in New Jersey. A brief about the disclosure forms that you need to fill out in New Jersey is given below:

Seller’s Disclosure NoticeThe New Jersey Real Estate Disclosure form is a checklist of all the things that need to be disclosed. This includes plumbing, water & sewage, heating & air conditioning, deed restrictions, special designations, homeowners association/condominiums, and co-Ops, radon gas, etc.
Lead Paint DisclosureSpecifically for homes that were built before 1978. Federal law requires the seller to disclose any dangers related to lead-based paint.
Flood Zone StatementA buyer’s lender may require the concerned property’s flood hazard disclosures report before providing the loan. This could be important in mortgages that are backed by the federal government.
Defects and Damage
The sellers are expected to reveal if their house in New Jersey has any major defects or damages with regards to electrical and housing systems, damage caused by termites, squirrels, or other insects, or water intrusion and drainage.

    🎯 Houzeo Makes It Easy For You To Meet Your Disclosure Requirements

    Houzeo offers the best possible alternatives for you to deal with disclosures.

      💲 List your property with Houzeo’s Freemium Plan

      💲 Purchase the “Contract to Close Upgrade Package”. A Licensed broker will review your paperwork to make sure it is appropriate.

      In addition, you should also have the settlement agent review the paperwork so you cover all bases.

    » More: Start your FREE listing NOW!

Here are the best practices you should note when selling a home as-is in New Jersey:

#Best PracticesDescription
1.Disclose all the detailsDisclose all the details to the buyers as it will help them make an informed decision and will also reflect your honesty as a seller. Remember, you’re offering your house to the buyers in its existing condition, and that means you have to make an assurance that it is still structurally livable and sound.
2.Label your listing as “As Is”Mentioning “As Is” in your listing will help buyers understand that you are selling your home in the existing condition and it is different from the regular sale.
3.Pre-listing InspectionConducting a pre-listing home inspection when selling as is will ensure that the overall process is transparent. This will also help in building trust with the buyers.
4.Make minor improvementsYou can carry out the high return on investment repairs which can enhance the look of the property. This includes installing fresh mulch on the lawn, deep cleaning and decluttering, adding a fresh layer of paint, etc.
5.Keep your intentions clearIt’s necessary to be clear in your marketing intentions. Buyers may back out after they figure out there are too many repairs to handle. It will not just waste time but put a bad reputation on your future negotiation.
6.Demand a fair priceNever ask for above the estimated price. Some buyers will ask their contractors for estimates or do their home inspection just to make sure you’re not playing coy. If you want to double your property’s worth, make time to prepare your home—or spend bucks for improvements.

Options for Selling a House As Is in New Jersey

Best Option: List Your House “As Is” on the MLS via Houzeo.com

Houzeo is a tech company that deals in American real estate and aims to improve the home selling experience. More than $3.5 billion worth of properties were listed on Houzeo.com in 2021.

By choosing Houzeo, you can attract offers as high as 100% of the home value. Houzeo’s cutting-edge technology ensures your house is listed on the MLS and gets maximum exposure.

» Explore: Houzeo Reviews: Is Houzeo Worth Your Money?

Best Option To List Your Home As-Is in New Jersey

  • Listing Fee: $249 to $399
  • Available nationwide
  • 5 Stars 4.9/5.0 (out of 2,865 reviews)

Houzeo, an online real estate tech company, provides an unbeatable combination of maximum savings, cutting-edge technology, and 5-star customer support.

💰 Save Thousands on Commission: Houzeo’s plans are typically a small flat fee. This will save you thousands. If your buyer is unrepresented, you save the buyer agent commission as well.

📣 Maximum Exposure: Listings get syndicated to the MLS, Zillow, Realtor.com, Redfin, Trulia, and hundreds of other websites. Houzeo also has nifty social media sharing tools. No other platform gives you this much exposure.

Fast Listing & Changes: Houzeo is 100% online. Listing is easy and changes are fast. So you can focus on what is most important – your sale.

⭐ 5-Star Customer Support: Home sellers across America have rated Houzeo 4.9 out of 5 stars on major review sites like Google and Trustpilot. There is comfort in the fact that when you call, there is a live person picking up the phone on the other line.

📱 Cutting-edge Technology: Houzeo is the most powerful real estate website. Its advanced features include:

  • IntelliList Listing Management System: Lets you manage your listing 100% online.
  • Houzeo Showings: Manage showing appointments online.
  • Houzeo Offers: All offers are summarized online. You can view and compare offers, or counter an offer. In a multiple-offer situation, you can also call for highest and best offers.
  • Buyer Search: Buyers can contact you directly on Houzeo.com instead of going through a real estate agent.
  • Houzeo Settlement Agent Platform: Guides you to your closing.

👉 Our Take: Houzeo.com is our top pick because it delivers an unbeatable combination of savings, tech features, and service of any flat fee MLS listing service website we’ve reviewed.

»SAVE: Start your free listing on Houzeo.com today!

  • Nationwide coverage
  • Listings get syndicated to Zillow, Realtor.com, Trulia, Redfin, and 100s of other sites
  • Quick listing (within a day with concierge)
  • Savings on commissions
  • 100% online – easy listing, fast changes, online showings, and online offers
  • Mobile app availability

Houzeo has a 4.9 out of 5 rating on Google & Trustpilot.

Houzeo is available nationwide.

Sell Your Home to Companies that Buy Houses for Cash

A cash company can be a viable alternative if your property is in severely poor condition and you need to sell it quickly for cash. They are real estate companies that make speedy bids and assist you in selling your house for cash quickly.

However, there is one significant disadvantage. You’ll only get 50% to 70% of the fair market worth of your home, which is a low-ball offer. An investor with quick cash can get a home worth $150,000 on the open market for $70,000. An offer that is roughly 50% less than the property’s market value.

» More: 13 Best Companies that Buy Houses for Cash in 2022

    ✍️Pro Tip: Consider selling your New Jersey home as-is to an iBuyer

    If your house is not in extremely bad condition then you can opt for iBuyers. iBuyers are companies that will buy your home for cash outright. An iBuyer can offer and close the deal within 24 hours.

    »Explore: iBuyers Reviews: Selling Your House for Cash in 2022

Sell Your House As Is Through an Agent

The traditional option for selling your houses as-is through real estate agents is always available. It will help you understand what all price options are available to you. A real estate agent would also guide you throughout the process and assist during closings.

» More: 10 Top Real Estate Agents In New Jersey: All You NEED To Know

The average real estate commission in New Jersey is approximately 5.5%-6%. of the sale price, which means if you choose to sell with the help of a REALTOR you will have to shell out this much amount as their commission.

To save this amount you can list it on Flat Fee MLS Listing companies such as Houzeo. Such Flat Fee MLS Listing platforms make the job easier for home sellers who are otherwise looking to sell FSBO.

Final Word

Selling a run-down, worn-down home in New Jersey or any other state might be difficult. Minor repairs and accentuating your home’s best qualities, on the other hand, can assist compensate for these flaws.

If you don’t have the patience to manage renovations, your real estate agent can help you make a list of what has to be repaired. As a result, weighing the benefits against the low asking price is easier. Additionally, buyers will have the opportunity to consider the amount of work they will need to invest.

But to avail of the agent’s advice, you have to shell out a heavy real estate commission. THIS IS WHERE HOUZEO CAN HELP!

Houzeo can help skip some of the manual processes involved here. With Houzeo, you can list your property as an owner and facilitate a hassle-free closing process with the help of an attorney. You do not have to worry about complex processes as the platform is 100% online. It will also help in listing your property on the MLS at a flat fee rate, taking care of tasks that otherwise would require manual intervention. 

Check out some of the Houzeo reviews and how it has helped customers around the US.

Houzeo Reviews

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Frequently Asked Questions (FAQs)

Is New Jersey a full disclosure state?

Yes, New Jersey is a full disclosure state.

Do you lose money selling a house as is?

Just because you are selling a house in its existing condition doesn't mean you have to sell it for a loss. The proper market analysis combined with providing accurate seller disclosures can help you fetch the best possible price for your house.

What does it mean when a house is listed as sold as is?

A house that is being listed as "as-is" means that the buyer would have to accept the house in its existing condition and no major repairs would be made by the seller unless agreed upon otherwise.

Should you sell your house as is?

You can choose to sell your house as-is if you want to close on your house quickly and do not wish to spend a lot of money on repairs.

Should I fix up my house or sell as is?

It completely depends on the situation. If you have some very significant repairs to be made, then you should sell your house as-is. Because this can save you thousands of dollars. But in this case, you should also be prepared to leave some amount of money on the table.

How to sell a house as is for cash?

You can opt for companies that buy houses for cash or iBuyers to sell your house as-is for cash.

Can you negotiate an as is home in New Jersey?

When a real estate agent lists a home for sale "as is", the buyer's legal rights are unaffected. You can negotiate an as-is home in New Jersey.

How much do you lose selling a house as is?

Most of the cash companies offer 20-50% lower than your home's market value. A significant amount to lose!

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