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Call Ryan: 973-699-3804
Call Ryan: 973-699-3804
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Homeowner resource

Vacant property in New Jersey

An empty house keeps costing money every month and is more exposed to damage than an occupied one. The useful first step is to work out what it’s costing you and what could go wrong, then decide what to do with it.

What an empty house really costs

  • Carrying costs. Property taxes, insurance, utilities, lawn and snow care keep coming, whether anyone lives there or not.
  • Insurance. Many homeowners policies treat a vacant house differently from an occupied one. Ask your insurer what your policy covers once the house is empty.
  • Weather. A New Jersey winter in an unheated house can mean frozen pipes and water damage.
  • Security and condition. Empty houses attract break-ins and small problems that grow unnoticed.
  • Local rules. Some towns have registration or maintenance requirements for vacant properties. Check with your municipality.
  • In foreclosure. If a foreclosure has been filed and the house becomes vacant and abandoned, New Jersey law may make the lender responsible for some exterior upkeep, and the town may be able to enforce that. You still own the house until the foreclosure is complete, so keep it secure and insured.

If it’s going to sit empty for a while

Call your insurer, keep the heat on or have the house winterized, secure doors and windows, ask the town about any requirements, and arrange for someone to check on it regularly.

What you can do with it

  • Rent it. Turns a cost into income, but makes you a landlord, with repairs, a tenant and New Jersey tenant protections.
  • Fix it up and list it. Often a higher sale price, if you have the cash, the time and someone to manage the work. How to decide whether to repair or sell as-is.
  • List it as-is. Less work up front. Buyers will price in the condition, and some financing may be harder for a house that needs repairs.
  • Hold it. Can make sense if you can comfortably carry the costs and have a plan for the house. Holding without a plan usually just adds cost. How to decide whether to sell now or wait.
  • A direct offer. No repairs or showings and a closing date that works for you, subject to title and normal closing requirements, usually for less than a fixed-up listing might bring.

When a direct offer makes sense, and when it doesn’t

Worth a look

A direct offer tends to fit when the house needs work, you live far away or the monthly costs are adding up with no plan.

Usually not the first move

If the house is in good shape and you can manage it for a few months, listing it may bring a higher sale price.

Add up what the house costs you each month while it sits. That number often makes the decision clearer than any offer does.

This guide is general information, not legal, tax, insurance or financial advice. Insurance coverage and municipal requirements vary, so confirm them with your insurer and your town.

Talk to Ryan

Not sure which path fits your situation?

Text or call Ryan and tell him what’s going on with the house. He’ll explain the options he sees, including the ones that don’t involve a direct sale.

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Call 973-699-3804

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