4 of the Top We Buy Houses for Cash Companies in Jersey City
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Joseph Gordon Associate EditorJoseph Gordon is an Associate Editor with HomeLight. He has seven years of experience reporting on the commercial real estate and insurance industries. He holds an MFA in Creative Writing from the University of San Francisco.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
We Buy Houses companies in Jersey City will make fast, no-hassle cash offers for homes that need repairs, giving sellers who lack the money, time, or know-how to fix their property the ability to sell their homes quickly and move on with their lives.
Fast home sales are increasingly common. If you’re starting a new job, needing to downsize your property for retirement, or dispose of an inherited property, a We Buy Houses company in Jersey City could be the answer you are looking for.
However, it’s important to understand how the process works. Our guide will break down selling your Jersey City home for cash, highlight some top local companies in your area, and provide you with some alternatives.
Sell Your House Fast in Jersey City With a Cash Offer
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Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Jersey City area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Jersey City
Selling your home to a We Buy Houses company in Jersey City isn’t complicated, but there are a few steps you should know. Here’s a brief look at how the process works:
- Reach out to the company: Contact a reputable ‘We Buy Houses’ company in Jersey City. The company will ask for some basic information about your home to determine if your property is a good fit.
- Schedule a home assessment: Next, the company will likely want to conduct an on-site evaluation of your home. This will help them determine the value of your property in its current condition.
- Receive an offer: Once the assessment is complete, you’ll likely receive a cash offer. This offer is almost always non-negotiable.
- Review the offer: Take your time to review the terms of the offer. Be sure that it meets expectations, and don’t be afraid to ask any questions.
- Accept the offer: If you’re satisfied, you can accept the offer.
- Close the sale: Closing is often fast with cash buyers. You might close the sale in less than a week, receiving your cash almost immediately.
Popular We Buy Houses for Cash companies in Jersey City
If the process of selling to a house-buying company in Jersey City sounds 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 or your parents’ Colonial or Craftsman. By selling to one of these companies, you should be able to sell your Jersey City home in as little as a week or two.
DNT Home Buyers
DNT Home Buyers has been doing business for seven years, with hundreds of home deals under their belt. The company prides itself on a no-nonsense business model born out of a desire to put sellers at ease about a potentially confusing experience.
Locations: Statewide, including Jersey City
Closing costs: Sellers pay no closing costs; DNT Home Buyers cover them.
DNT Home Buyers is BBB accredited with an A+ rating since 2019. They have a five-star rating on Google based on 37 very positive reviews. Customer testimonials speak about the patience and can-do attitude of the DNT team.
Website: dnthomebuyers.com
Phone number: 732-352-9065
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Jersey City (and across the country) can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the U.S. Partner investors have a wide range of investment strategies, including fix-and-flip and buy-and-hold. This enables Simple Sale to provide cash offers for a wide array of properties, even those that need some or a lot of work, in different locations throughout Jersey City.
With Simple Sale, you can get a no-obligation, all-cash offer in 24 hours and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Jersey City
Closing costs: No prep costs, agent commissions, or fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A+ rating. The company has 4.8 stars on Google based on hundreds of user reviews. Below, you can hear about how Baohan Wu, a seller who used Simple Sale to sell his high-rise apartment, closed within three and a half weeks and what he thought of the process overall.
Learn more: homelight.com/simple
Phone: 844-488-8455
We Buy NJ Real Estate
We Buy NJ Real Estate was founded over 20 years ago as an investment company. Since then, the company has focused on revitalizing both homes and communities.
Locations: Statewide, including Jersey City.
Closing costs: Sellers pay no closing costs; We Buy NJ Real Estate covers them.
We Buy NJ Real Estate has been BBB accredited with an A+ rating since 2011. They also have a five-star Google business rating, with customers attesting to the high level of care and service that We Buy NJ Real Estate put into the process.
Website: webuynjrealestate.com
Phone number: 908-320-7995
We Buy Houses, Jersey City
WeBuyHouses.com was founded in 1997 and buys houses in 200 markets and 30 states in any condition. According to their website, they have been trusted by 1 million homeowners and can present a cash offer even if the homeowner is behind on their mortgage or facing foreclosure.
Locations: Nationwide, including Jersey City
Closing costs: Sellers pay no closing costs; WeBuyHouses.com covers them.
WeBuyHouses.com has been BBB accredited since August 2020 and has an A+ rating. Customer reviews for WeBuyHouses.com speak to their professionalism and understandable procedure.
Website: webuyhouses.com/NJ/Jersey_City/
Phone number: 877-932-8946
Why sell your Jersey City house for cash?
You’ve worked hard to own a home…why sell it for cash in a matter of days? We Buy Houses customers will typically point to the speed of the transaction compared to a traditional home sale, combined with an extremely easy selling process.
In Jersey City, it typically takes around 102 days to sell a home on the market using an agent. That includes an average of 58 days on the market plus the typical 44 days or so that a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in Jersey City, and it’s clear why these Cash-For-Homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
Let’s explore some common reasons why sellers might sell their homes for cash:
- Job relocation: When you need to move quickly for a new job, selling for cash means you can move without the weight of a pending home sale dragging you down.
- Divorce: Simplify the division of assets by quickly selling your home for cash during a divorce.
- Inherited property: If managing or maintaining an inherited home is too cumbersome, selling for cash offers an immediate solution.
- Downsizing: Ready to move to a smaller home or a retirement community? A cash sale is quick and hassle-free.
- Major repairs needed: Avoid the cost and time involved in fixing serious issues like a damaged foundation by selling as-is.
- Avoiding open houses: Skip the stress and privacy concerns of open houses by opting for a direct cash sale.
- Foundation issues: Specific structural problems can be a dealbreaker for traditional buyers but not for cash buyers.
- Foreclosure looming: Selling for cash might provide a way out before a foreclosure affects your credit.
- Problematic tenants: Cash sales can resolve situations with difficult tenants quickly.
- Selling from out of state: Manage a hassle-free sale of your Jersey City property even if you’re not locally based.
Pros and cons of house-buying companies in Jersey City
Purchasing your home for cash in Jersey City has its ups and downs. Selling for cash can be great for homeowners who need a quick, hassle-free sale, but there are some major downsides to consider.
Pros:
- Quick sale: House-buying companies close deals much faster than traditional sales, often within a week, allowing you to move on swiftly.
- Buy as-is: You can sell your house as-is, avoiding the costs and time required for repairs and renovations.
- No contingencies: These companies usually buy without contingencies, simplifying the selling process significantly.
- Avoid uncertainties: There’s no need to worry about financing fall-throughs or other common delays in traditional sales.
Cons:
- Lower offers: You will receive an offer below market value, as these companies need to profit on the eventual resale.
- Limited negotiation: Offers from these companies are typically take-it-or-leave-it, providing little room for price negotiation.
- Potential for scams: It’s important to be aware of scams, as some less reputable companies may exploit sellers.
- Lack of competition: Unlike the open market, where multiple buyers might drive up your home’s price, you’re dealing with a single buyer.
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Vet cash buyers and know your home’s worth
When considering a cash offer for your Jersey City home, selling to a reputable buyer is important. Here are things you can do to help you vet a house-buying company:
- Check reviews: Look up reviews and ratings online to gauge the company’s reputation and customer satisfaction. This can provide insight into their integrity and reliability.
- Read testimonials: Testimonials from previous sellers can offer a glimpse into the company’s dealings and how they treat their clients.
- Research the company: Investigate its presence in Jersey City and its past market performance. This helps verify their credibility and expertise in the real estate industry.
- Examine the buying agreement: Carefully read through the buying agreement to understand all terms and conditions before you commit.
HomeLight suggests you consult with an experienced local agent to get a better idea of what your home might be worth if sold on the open market. Then, compare your cash offer. HomeLight can connect you with a top-performing agent in your market. You can also use HomeLight’s Home Value Estimator for an initial ballpark estimate in less than two minutes.
Other options to sell your Jersey City home quickly
- iBuyers: Instant buyers, or iBuyers, utilize automated valuation models (AVMs) to provide near-instant home valuations and all-cash offers, often closer to market value. The primarily online iBuyer process, from offer to closing, is fast, taking just a few days to two weeks. While iBuyers like Opendoor and Offerpad typically charge service fees of 5%-6%, they’re ideal for homes in good condition in homogeneous housing markets.
- Listing with an agent: While slower compared to iBuyers, partnering with a top real estate agent can also facilitate a quick sale, particularly in a seller-friendly market. Agents can provide valuable insights through a comparative market analysis (CMA), which is often free and helps set competitive pricing to accelerate the selling process.
Moreover, agents might connect you with cash buyers, potentially getting you a price close to market value. If this sounds good, HomeLight can connect you with leading agents in your area today.
FAQs on Jersey City house-buying companies
By and large, most We Buy Houses for Cash companies in Jersey City are legitimate businesses. Their services and transaction fees may differ, but the business model has been around for decades. If you use an established group with a track record, you can be fairly confident that it’s legit.
That said, as with any financial transaction, it’s a good idea to be on the alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
As described in our pros and cons list above, most Jersey City We Buy Houses for Cash companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s take a look at an example offer equation. Let’s say your Jersey City Colonial could sell for $740,000 after repairs, but it will need $30,000 of work to get there.
($350,000 x .70) – $30,000 = $488,000
In this example, a Jersey City We Buy Houses company might offer you around $488,000 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because iBuyers look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
When you accept an offer from a Jersey City We Buy Houses for Cash company, you will likely be coming to grips with a double-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once it is accepted. Conversely, you’ll likely get less money overall for your home.
Because We Buy Houses for Cash companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive will be the price you walk away with at the end of the deal. Of course, asking the company if any hidden program fees might impact your bottom line is always a good idea.
- Research and vet the house-buying companies that serve your Jersey City area. Our list above is a good place to start.
- Submit offer requests to a few of the companies you like best.
- Schedule any required on-site property visits.
- Compare offers. Weigh the pros and cons and choose the best option for you.
- Close the sale in a week to 30 days and get paid. (Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.)
We Buy Houses for Cash in Jersey City vs. top Jersey City agent
Another helpful exercise is to compare how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s take a glance at how different aspects of the sale might look and compare possible proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Jersey City | Sell with a top Realtor in Jersey City |
| Selling timeline | 7 to 30 days | 102 days average; 58 to attract an offer, 44 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections / repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the appraisal comes in low |
| Title search | Cash-For-Homes companies often handle title issues | Must clear the title before you can sell the home |
| Financing contingency | None | Mortgaged buyers use a financing contingency that could hold up the deal if the buyer’s loan doesn’t clear |
| Agent commission | None | 5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve compiled one example of how net proceeds may differ between selling a home to a We Buy Houses for Cash company and an agent-assisted sale.
Let’s say your home in Jersey City is worth about $740,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $765,000.
| Sell to a We Buy Houses for Cash company in Jersey City | Sell with a top Realtor in Jersey City | |
| Estimated sale price | ($765,000 x .70) – $25,000 = $510,500 | $740,000 |
| Market preparations | 0 | $7,400 (1% of sale price) |
| Agent commissions | 0 | $42,920 (5.8% of sale price) |
| Closing costs | 0 | $11,100 (1.5%) |
| Estimated take-home for seller | $510,500 | $678,580 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- Quick sale: If you need to sell your Jersey City home fast, house-buying companies offer a speedy and straightforward sale process.
- Sell as-is: You can avoid the hassle and expense of home repairs by selling your property in its current condition to a cash buyer.
- No contingencies: Selling to a cash buyer means bypassing common sale hurdles like buyer financing fall-throughs.
- Consider alternatives: Exploring other options like iBuyers or real estate agents could yield a higher sale price for your home.
- Know your home’s worth: Always be aware of your property’s estimated market value before you proceed with a cash-offer company.
At HomeLight, we’re happy to lend a guiding hand in navigating your real estate journey. Let us help you make an informed and confident decision, whether you’re looking for a no-obligation cash offer through a trusted platform like Simple Sale or seeking to consult with a top Jersey City agent.
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