We Buy Houses Galloway, New Jersey: Top 4 Companies

Pros and cons of house buying companies in Galloway

Before selling to a cash buyer in Galloway, it is important to understand both the advantages and potential disadvantages. These companies offer speed and simplicity, but that convenience can come at a cost. Here’s a quick overview of what to expect:

Benefits of selling to a house buying company in Galloway

• Quick close: Many home buying companies can complete your sale in one to two weeks, which is ideal if you need to move quickly. For context, selling through a Galloway agent typically takes around 89 days (on average). days to close a loan plus average market days (48) in Galloway).
• No preparatory work required: You avoid the hassle of repairs, upgrades, cleaning, or staging since these buyers purchase properties “as is.”
• No financing delays: Because transactions are cash-based, you avoid the risk of the deal falling apart due to unforeseen circumstances or loan approvals.
• Effortless process: No viewings, open days or negotiations are necessary; just a clear offer and a quick closing.

Disadvantages of selling to a house buying company in Galloway

• Lower sales price: Selling to a home buying company usually means accepting an offer that is below market value, resulting in less money than selling through an agent. This is because most We Buy Houses companies use the 70% rule, where they offer approximately 70% of the expected after-repair value (ARV) of your home, minus the expected repair costs.
  • Example: If your home in Galloway is appraised at $429,500 and requires $30,000 in repairs, an offer might be calculated as follows: ($429,500 × 0.70) – $30,000 = $270,650.
  • In this case, a Galloway cash buyer could offer approximately $270,650 for your property.
• Limited bargaining power: Most home buying companies make take-it-or-leave-it offers, leaving little room to negotiate a higher price.
• Risk of fraud: Not all cash buyers are trustworthy; some are scammers who target vulnerable sellers with misleading deals or hidden fees.
• Less protection for sellers: Unlike traditional sales, these deals often favor the buyer and provide fewer legal safeguards for the seller.

Keep in mind that an experienced Galloway real estate agent may be able to get you more money than a quick cash offer.

For example, after taking into account typical selling costs such as closing costs, real estate agent commissions and market preparation, a real estate agent can help you make about $405,878 or more – a big difference from a cash deal.

Your situation is important

The best approach depends on the condition of your home, any necessary repairs, and your sales goals. If time is your main concern, a cash offer may make the most sense. But if you’re aiming for the highest price possible, working with a trusted Galloway broker can lead to stronger returns.

Whichever path you choose, take the time to research your options before making a final decision.

At HomeLight we recommend that you first contact an experienced local agent. They can give you an accurate estimate of market value and help you evaluate any cash offers you receive. HomeLight can also put you in touch with a top performing agent in the Galloway area.

Need a quick estimate? Try HomeLight’s Home Value Estimator to see the estimated value of your home in two minutes.