The above slideshare gives helpful hints on how to sell a house online. If you’re going to sell your NJ home online, there’s a few things to consider. Aside from the helpful tips provided in the slides, it’s important to decide who your end buyer will be. Are you looking to sell to a retail (mortgage) buyer? Are you looking to sell to a cash buyer (investor or investment company who does not need a mortgage). There are pros and cons to each buyer.
Retail Buyer – These are your buyers looking to purchase your home to live in. They typically need a mortgage to purchase your home and usually want you to make repairs or give them credit for repairs to be made.
pros – They will typically pay the most for your home.
cons – They don’t always qualify to purchase your home. The timeline is usually about 30 days minimum to close on your home.
Cash Buyer – These are your investors / investment companies buying cash. They don’t need a mortgage to purchase your home.
pros – They can close fast, sometimes in a matter of days if necessary. They purchase your home AS IS so you don’t have to worry about making repairs.
cons – They typically purchase below what a retail buyer will pay.
If you consider selling to a retail buyer, it’s important to know if your home is mortgageable. What does this mean? It means your home must be able to obtain a CO (certificate of occupancy). If your home needs a lot of repairs, it might not be eligible for a CO and therefore not mortgageable. If your home is not mortgageable, then you have two options:
1. Make the repairs and sell to a retail buyer
2. Don’t make the repairs and sell quick to a cash buyer
If you choose option 2, the next decision is to find the right cash buyer. For starters, not all cash buyers are the same. Just like any business, there are some good buyer and some bad buyers. What do you mean, if they are all buying cash, aren’t they all the same? Unfortunately they aren’t all the same. Some cash buyers have been around a long time and have an established business. Other cash buyers are brand new to the business, and sadly, this is not good for sellers like yourself. I personally have witness many new investors waste sellers time because they do not have a properly established business and do not have all the necessary tools to perform (aka close on the property). Most often, this comes at the expense of the homeowner.
If you’re looking to sell your new jersey house online, please consider us. My team and I have been doing this since 2006. We are an established company and trusted by many homeowners. Please visit our testimonials page for just a few of our happy sellers comments. After your finished browsing, feel free to contact us for a no obligation offer on your new jersey home. You can fill out the information on our sell now page to start the simple process to sell your NJ home online today!