Why We Love Buying New Jersey Land in Cash

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Why We Love Buying New Jersey Land in Cash
By

Bart Waldon

As one of the original 13 colonies and home to over 9 million residents, New Jersey has a rich history and culture. This densely populated state packs in endless views, from the Jersey Shore's iconic boardwalks and beaches to the sprawling farmlands and forests of its rural northwest region. With its prime location near major cities and abundance of natural beauty, it's no wonder the Garden State is a dream destination for land buyers. Here's a deeper look at why purchasing New Jersey land with an all-cash offer is often ideal.

For Land Buyers, Cash is King in New Jersey

Using cash to buy land comes with some big benefits that put buyers in a stronger position:

Speedy Purchase with No Contingencies

Going the cash route means there's no need for financing contingencies or waiting on loan approvals. This removes delays and speeds up the purchase process significantly. Once an offer is accepted, buyers can close within a matter of days or weeks.

Stronger Bargaining Power

Nothing persuades sellers more than cold, hard cash. In competitive markets, all-cash offers are seen as more desirable with less risk of falling through. Cash buyers have greater leverage to negotiate better pricing and terms.

Maintain a Level Head to Avoid Overpaying

Obtaining financing can lead buyers to become emotionally invested and overpay. But those financing with cash can calmly assess the property’s value and walk away if the numbers don’t make sense. Staying detached avoids overextending the budget.

Added Flexibility After Purchase

Since there’s no bank involved, cash buyers have more flexibility if the land will sit vacant before development begins. There are no arbitrary lender timelines to start building within 6 months or a year.

Using cash to buy land in New Jersey creates a smoother, quicker path to ownership. Now let's look closer at why the Garden State makes for a solid real estate investment.

The Perks of Owning New Jersey Land

From its fertile farmland to its miles of shoreline, New Jersey offers diverse landscapes. Here are some of the factors driving demand among land buyers:

Accessibility to Major Metro Areas

Despite its quiet, suburban vibe, New Jersey provides easy access to two massive cities along the East Coast. It’s conveniently situated between New York City and Philadelphia, with urban hubs also scattered throughout the state. Residents can enjoy a peaceful lifestyle while still being able to commute or take weekend trips into the big city.

Four Distinct Seasons to Enjoy

New Jersey gets to experience all four seasons. Summers bring warm, sunny days perfect for hitting the beach or exploring the forests and farmlands. Fall sees the leaves explode into a kaleidoscope of colors while the crisp air sets in. Snowy winters provide the idyllic backdrop for skiing, snowboarding, and cozying up by the fireplace. And spring signals new beginnings as greenery returns and flowers begin blooming.

Miles of Scenic Shoreline

Sunbathers, swimmers, fishermen and beachcombers flock to New Jersey’s famous shoreline along the Atlantic. The state boasts around 130 miles of coastline, renowned for its wide, sandy beaches, boardwalks, beach towns, and amusement parks. For water lovers, living near these scenic beaches is a dream.

A Rich Agricultural Tradition

The Garden State has a long farming history. In fact, agriculture remains a major industry today. New Jersey produces the 3rd most blueberries and cranberries of any state. It also ranks within the top 10 for growing spinach, peaches, tomatoes, bell peppers and other produce. Buying rural land here comes with fertile soil perfect for growing your own fruits, vegetables and flowers.

Incentives for Property Owners

Certain municipalities in New Jersey offer property tax reductions for landowners as an incentive to promote development and growth. These savings make owning land much more affordable. But be sure to consult your local tax assessor’s office to understand eligibility requirements.

With its welcoming small towns, thriving cities, natural wonders and rich cultural experiences, owning a piece of the Garden State is highly alluring. Those purchasing land in New Jersey will not be disappointed. Next let’s discuss how to navigate the local land markets.

Tips for Vetting New Jersey Land Parcels

New Jersey spans vastly different terrains, from the pine forests and mountains of the north to the sprawling farmlands and marshes along the coast. Here are some pointers for evaluating land:

  • Conduct Thorough Due Diligence - Don’t rush into a purchase. Take time to research zoning regulations, visit the property, have it surveyed, and understand any environmental factors. Make an informed decision.
  • Check Accessibility - Look at how easily you can get in and out of the property and if there are any easements through neighboring land. Drive the local roads to assess overall connectivity in the area.
  • Evaluate Utilities Availability - Research what electric, water, gas and sewer utilities are available nearby and costs to connect them to the property if needed. Lack of access can impact development plans.
  • Assess Drainage and Flooding - Even inland areas are prone to flooding, especially if there are nearby streams or wetlands. Try to visit after heavy rains and note any drainage issues.
  • Consider Surrounding Land Uses - Drive around to observe zoning and current use of neighboring properties. Nearby commercial areas, cell towers, roads, etc. can impact future plans.
  • Test Soil for Septic Viability - For rural lands, poor soil drainage can make installing a septic system challenging and costly. Be sure to test soil composition if needed.
  • Understand Permitting Requirements - Most development requires permits for clearing land, zoning, construction, septic systems, etc. Factor in these timelines and costs.

While buying New Jersey land is exhilarating, don’t let the emotions override sound judgment. Ask the hard questions and do your homework to ensure it aligns with your goals.

Why Landowners Love Selling for Cash

For those looking to sell their land, there are several scenarios where securing a cash buyer makes the most sense.

Avoid Hassles by Working with a Direct Buyer

Attempting to sell land on your own comes with many headaches - from marketing it to handling title work and contracts. Land buying companies streamline this immensely by handling the entire sales process for you.

Need to Sell Quickly? Cash is Key

If you have an urgent need to sell, like an out-of-state move approaching, a cash sale will close much faster. There’s no waiting on buyer financing. This adds peace of mind.

Save Money by Eliminating Agent Commissions

Listing with a real estate agent typically costs 5-6% of the sales price. But selling directly to a land buyer means not paying any commissions.

Unload Difficult-to-Sell Properties

Some lands have access limitations, wetlands issues, zoning restrictions or other complications. Companies specializing in land buy these types of distressed or undevelopable properties.

Free Up Time by Outsourcing Work

Attempting a private sale takes a lot of your personal time and energy. Working with a land company outsources all that work so you can focus on other priorities.

Retire Risk-Free Without Being Tied to the Land

For retirees, a cash sale allows liquidating unwanted land while freeing up equity. There's no need to wait indefinitely for the right buyer to come along.

Selling land directly to a cash buyer offers many perks over the traditional process. Companies like Land Boss make it fast and stress-free.

Final Thoughts

New Jersey offers gorgeous scenery, bustling urban areas, acres of peaceful farmlands and forests, and of course - easy access to the beach! With strategic location and amazing diversity packed into 8,729 square miles, it’s easy to see why land here is in such high demand. Purchasing with cash allows buyers to move swiftly when that perfect parcel comes available. For landowners, there are also huge benefits to selling directly to a cash buyer. Companies like [Land Boss] take the burden off your plate while getting top dollar for your land. In New Jersey’s thriving real estate market, transacting in cash is a win-win approach.

Frequently Asked Questions (FAQs)

What are some benefits of buying New Jersey land with an all-cash offer?

Cash is king when buying land in NJ! All-cash offers move faster with no financing contingencies, give you stronger negotiating power on price/terms, allow you to avoid overpaying emotionally, and provide more flexibility on when to develop the land.

Does New Jersey have high property taxes that make owning land expensive?

This concern is understandable - NJ does have some of the nation’s highest property tax rates. But there are also tax incentive programs in certain cities and rural areas to promote development. Check with the town where you’re looking to buy land to see if any reductions or exemptions apply.

I’m worried about flooding if I buy near the Jersey Shore or rivers. How can I vet this risk?

Smart thinking! Definitely scrutinize any drainage or flooding issues on land near bodies of water or wetlands. Visit after heavy rains and look for pooling. Ask neighbors about past flood events too. And consider flood zone maps to understand any risks.

What steps should I take before buying vacant land in NJ?

Do your due diligence! Walk the property and see if it aligns with your plans. Get a survey done to confirm boundaries. Research permitting timelines/costs. Check accessibility, utility availability, soil quality, surrounding land uses and more. Make an informed purchase.

As a landowner, what do I gain from selling to a cash land buyer versus listing it?

Huge perks! You avoid headaches of DIY selling, pay no agent commissions, and can sell fast without financing issues. Companies buy as-is and handle all title work/contracts. And you get cash fast to pursue other plans.

About The Author

Bart Waldon

Bart, co-founder of Land Boss with wife Dallas Waldon, boasts over half a decade in real estate. With 100+ successful land transactions nationwide, his expertise and hands-on approach solidify Land Boss as a leading player in land investment.

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