Tue. Aug 9th, 2022
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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 companies in this post do not constitute an endorsement. Individual program details can also frequently change — please visit a company’s website for the most up-to-date- information on each program’s fees, market coverage, business model, and more. HomeLight always recommends doing your own research to determine which selling option is best for your situation.

Not all “We Buy Houses” companies in Alabama are equal. Everyone has seen the brightly colored “We Buy Houses for Cash” signs on the side of the road. Those are not your only options. There are different types of house-buying companies that offer a convenient and streamlined method for selling homes online.

We Buy Houses companies in Alabama make all-cash offers for homes that often need some work, enabling sellers who lack the time, expertise, and money for repairs to move quickly and receive the cash proceeds from their home sooner if they need it.

Maybe you’re moving out of Huntsville for a job in Texas or Florida. Or maybe you’re ready to spend more time with your family all around the country. It might make sense for you to downsize and sell your historic Birmingham Tudor home quickly. No matter your specific circumstances, selling fast might be in your best interest.

If you need to sell your Alabama home quickly, a We Buy Houses for Cash company could be the best solution. However, before you request a cash offer, it’s important to understand how much an Alabama house-buying company might offer for your home and weigh your options. Once you’re familiar with the process, you can opt to select a company on our list of some of the top contenders and get moving.

Get an All-Cash Offer on Your Alabama Home

No repairs, no staging, no open houses. HomeLight’s Simple Sale platform provides full cash offers for homes in almost any condition nationwide and in Alabama. Get an offer in as few as 48 hours and close in as little as 10 days.

Working with house-buying companies in Alabama

We Buy Houses companies in Alabama typically promise quick, all-cash offers and ultra-fast closings, often in as few as seven days. They tend to target distressed properties in need of repairs, and work with sellers who need to move ASAP.

Here’s how the process generally works:

  1. You request an offer and provide the company with some information about your home. Some companies may make a preliminary offer at this stage, but it’s usually subject to change once they’ve inspected your property.
  2. The company completes a walk-through of your property, usually within 24 to 48 hours.
  3. The company makes a firm offer (usually within 24 hours, sometimes on-site after the walk-through) which you can accept or decline. Most of these companies will not negotiate on price, so the offer is a take-it-or-leave-it scenario.
  4. If you accept the offer, you’ll both sign a contract and the closing process will begin. Some companies offer a large deposit or moving cost assistance, and a few may even pay for the home upfront.
  5. Closing and getting paid is quick, typically within seven days to a few weeks. This can vary by company, and sellers who work with a house-buying company often enjoy flexibility in selecting a move-out date that works for them.

Popular We Buy Houses for Cash companies in Alabama

If these benefits of selling to a house-buying company in Alabama sound 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 parent’s Montgomery Victorian Era Queen Anne home; old homes need a lot of upkeep after all. Or maybe it’s time for you to pack it in at your ranch-style home in Tuscaloosa. Roll Tide and ‘Bama will always be in your heart, but your job took you to Georgia. By selling to one of these companies, you should be able to sell your Alabama home in as little as a week or two.

Birmingham Homebuyers LLC

Website: cashforhousesbham.com
Phone number: (205) 502-2161
Locations: Birmingham and other nearby cities

Jason LeSuer started Birmingham Homebuyers LLC in March 2015. The company points to its local roots and willingness to help Alabamans sell their houses, and the company purchases more than 50 homes per year. The team has more than 30 years of experience in the Birmingham metro area market. While they primarily serve Birmingham, the company also buys houses from Tuscaloosa to Talladega and Huntsville to Montgomery.

The company has a four-step process. Step one is to fill out a contact form. Step two is to schedule an appointment. Step three is an in-home inspection by a company rep and a no-obligation offer. Step four is closing with a local attorney. A homeowner can sell the house in as little as seven days.

Closing costs: Sellers pay no closing costs; Birmingham Homebuyers LLC covers them.

Reviews: Birmingham Homebuyers LLC has been BBB accredited since March 17, 2016. The company holds an “A+” rating. Customer reviews for Birmingham Homebuyers LLC speak to the buyer’s patience and thoroughness. They express their appreciation for receiving a “very good” price for their home.

Simple Sale (a HomeLight platform)

Website: homelight.com/simple
Phone: (844) 488-8455
Locations: Nationwide, including Alabama

Simple Sale, a solution from HomeLight, is an online platform where sellers in Alabama (and across the country) can request a cash offer for their home. Simple Sale has a network of cash buyers on its platform, and 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 Alabama. With Simple Sale, you can get an all-cash offer in as few as 48 hours and sell your home in as little as 10 days, skipping the months it can take to sell the traditional way.

Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.

Reviews: Simple Sale is a HomeLight platform. HomeLight is BBB accredited with a customer review rating of 4.57 stars out of 5, and has 4.6 stars on Google based on 355 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.

Moe Buys Homes

Website: moebuyshomes.com
Phone number: (251) 299-9632
Locations: Alabama, Georgia, and Florida

Moe Buys Homes is a younger company founded on New Year’s Day 2019. The company also buys homes in Pensacola, Florida. But if you engage with the chatbot, they will explain that they buy from all over Alabama and Georgia as well. Their headquarters is located in Orange Beach, Alabama.

The company uses its own cash to purchase homes, no banks are involved. Moe’s process works like this. First, the seller tells the company about the property. Second, they determine whether the house meets their criteria. Third, if the home meets the company’s criteria, the seller is presented with a cash offer. Finally, the transaction closes with a local title company. The process could be completed within seven days.

Closing costs: Sellers pay no closing costs; Moe Buys Homes covers them.

Reviews: Moe Buys Homes has been BBB accredited since February 8, 2021, and holds an “A+” rating. Customer reviews for Moe Buys Homes speak to the fairness of the offer, especially when compared to other “We Buy Houses Alabama” companies. They specifically express gratitude for Moe’s help, efficiency, and fair offers.

We Buy Houses in Bama

Website: webuyhousesinbama.com
Phone number: (256) 607-4109
Locations: Huntsville

We Buy Houses in Bama is another relatively young company. It was started on October 10, 2019. The company highlights its local ties and passion for helping fellow Alabamans. The husband and wife team, both named Jordan, promise to make the home seller their top priority.

We Buy Homes in Bama has a three-step process. First, a homeowner fills out a form and provides details on the home’s location and contact information. Second, the company contacts the seller for a property inspection and makes a cash offer. Third, the seller accepts the cash offer. In most cases, the company closes in seven to 14 days.

Closing costs: Sellers pay no closing costs; We Buy Homes in Bama covers them.

Reviews: We Buy Homes in Bama has been BBB accredited since March 2, 2021, and holds an “A” rating. There are no reviews on the BBB site, but one Google customer review for We Buy Homes in Bama speaks to the stress-free experience and the easiness of the process. They appreciate the fair price offered for the home.

Veritas Buyers

Website: veritasbuyers.com
Phone number: (256) 488-4055
Locations: Huntsville area

The company was founded in 2020 by CEO Richard Latimer. They are a local homebuyer that purchases properties as investments. Veritas Buyers hangs its hat on the level of experience that its team brings. The team members are professionals in the real estate industry and that brings value to the transaction.

Veritas Buyers has a three-step process. The first step is to schedule a consultation where the seller discusses different aspects of the home. Second, the company makes a cash offer in as few as 24 hours. Third, if the seller accepts the offer, a local title company closes the transaction.

Closing costs: Sellers pay no closing costs; Veritas Buyers covers them.

Reviews: Veritas Buyers has a Google Review rating of 5.0 out of 5.0 stars. Customer reviews for Veritas Buyers speak to the professionalism that Richard displayed in his transactions. They express surprise and appreciation that the company offered a fair price for homes. Several reviewers noted that the process seemed to be hassle-free. No reviews are currently posted on the BBB website for Veritas Buyers.

Best Homes & Property Solutions

Website: besthomes1.com
Phone number: (256) 277-9888
Locations: North Alabama area around Huntsville

Best Homes & Property Solutions has been around since 2020. Bill Brumbeloe, the redeveloper, has a passion for purchasing homes and rejuvenating neighborhoods. They both buy and sell houses in North Alabama, including Huntsville and Decatur. The company buys houses in any condition or price category.

Best Homes & Property Solutions employs a four-step process. Step 1, they collect your contact information and the location of the seller’s home. Step 2, the company contacts the seller within 24 hours and makes an offer. Step 3, that’s when the seller accepts or rejects the offer. This usually takes about 48 hours. Step 4, the seller gets the cash.

Closing costs: Best Homes & Property does not charge for their service.

Reviews: Best Homes & Property Solutions has a Google Review rating of 5.0 out of 5.0 stars. Customer reviews for Best Homes & Property Solutions speak to Bill’s professionalism, quality, and responsiveness. They express relief with how the company goes out of its way to provide solutions for sellers in distressing situations. We were unable to locate a BBB listing for Best Homes & Property Solutions.

Why sell for cash in Alabama?

There are plenty of reasons an Alabama seller may choose to go the Cash-For-Homes route, speed and certainty being chief among them.

In Alabama, it typically takes around 103 days to sell a home on the market using an agent. That includes an average of 49 days on market, plus the typical 54 days a buyer needs to close on a purchase loan.

Compare that to the typical seven days promised by many We Buy Houses for Cash companies in Alabama, and you can see why these companies remain popular, even though they don’t always offer top dollar.

Not every seller has months to prep, market, show, and close. Let’s look at some common reasons Alabama sellers choose Cash-For-Homes companies over listing the traditional way.

  • The home has major repair issues common in Alabama such as grading and drainage issues after especially heavy rains in Birmingham or near the many state rivers.
  • The seller needs to move or cash in quickly due to divorce, job relocation, medical need, financial stress, etc.
  • The seller doesn’t have the means or desire to make repairs.
  • The seller doesn’t want to bother prepping the home, dealing with showings, negotiating, or navigating a long sales process.
  • The seller prefers the privacy of selling their home off-market to a cash buyer.
  • The seller is in the foreclosure process and wants to sell the home and settle up with the lender before it’s too late.
  • The seller inherited property and wants to unload it as quickly as possible.
  • The seller is a landlord who has problem tenants or no longer wishes to manage a rental property.
  • The homeowner is aging and moving into a care facility, prompting their family to sell the home.
  • The seller is living out of Alabama and prefers the ease of a cash sale.

If any of these sounds like you, requesting a cash offer from a We Buy Houses for Cash company might be a good starting point, though it’s not your only option, and it may not be your best move (we’ll dive into your other options in just a minute!).

Pros and cons of house-buying companies in Alabama

By now, you’ve probably figured out that We Buy Houses for Cash companies in Alabama are a bit of a mixed bag. You get speed and service, but you may “pay” a sizable premium for that service. Let’s walk through a few pros and cons to consider while weighing your options.

Pros

One of the biggest advantages of working with We Buy Houses for Cash companies in Alabama is that you can sell your home “as is” with no repairs required, and they’ll buy homes in any condition.

If your home was severely damaged in a weather event, or you’ve fallen years behind on routine maintenance, you can still sell without needing to make the extensive repairs that financed buyers may require.

Here are some other pros to consider:

  • Speed: You can often sell your home in as few as seven days.
  • Certainty: Since the company does a pre-offer walk-through, their offer is firm and comes with few (if any) contingencies. Cash-For-Houses companies are experts at clearing roadblocks and closing deals.
  • No repairs: Again, if your home is in rough shape and you don’t have the funds or the patience to make repairs, you can skip them altogether and save yourself the stress.
  • Less hassle: You don’t have to deal with staging, open houses, fielding offers, negotiating with picky buyers, worrying about the appraisal, or stressing about the buyer’s financing falling through. Overall, reputable We Buy Houses for Cash companies in Alabama offer a smooth ride from offer to close.

That all may sound pretty great to you as a seller if you’re looking to move within weeks rather than the months it might take you to list and sell your home on the market with an agent. However, there are downsides to working with Cash-For-Homes companies. Namely, they typically offer substantially below market value for your home.

Cons

When considering an offer from a We Buy Houses site, remember that these are house-buying companies, which means they’re ultimately trying to make a profit. They plan to fix up your home and either resell it or rent it out. That takes considerable time, skill, and investment.

Here are some potential downsides to weigh:

  • Lower offers: Most companies follow the 70% rule, meaning they’ll offer you 70% of your home’s after-repair value (or the value that your house could sell for on the market once it’s all fixed up) minus repair costs. So the price you get for your home may be appreciably lower than what you’d get on the market.
  • Inconsistent market knowledge: Not all cash home buying companies are equal. Some are more localized, have specific neighborhood knowledge, and are able to leverage that expertise into more competitive offers. Others are less knowledgeable about the specifics of your community, which could result in lowball bids.
  • Not all companies are trustworthy: Some companies make extremely low offers to desperate homeowners and try to pressure you into making a quick decision. A few bad players may even engage in fraud tactics, though it’s uncommon.
  • They may use pressure tactics: These companies know that homeowners looking to sell quickly are often desperate, and some do take advantage of that by using pressure tactics. You should never feel pressured to accept an offer, especially since there are plenty of We Buy Houses for Cash companies in Alabama to choose from. If anyone makes you uncomfortable, it’s time to move on to another option.

Your home is more than a place where you make memories with family, it’s also likely your biggest asset. Sure, you want to sell quickly, but you could be leaving major money on the table if you choose to work with one of these We Buy Houses for Cash companies.

Always do your research, compare your options, and consult with a trusted advisor before accepting any offer.

Vet cash buyers and know your home’s worth

For many home sellers, We Buy Houses for Cash companies can be a solid solution to get a property sold quickly or to access cash for an expected life challenge. On the other hand, the “cash for your home” rehabbing business model has also led to what some housing advocates call predatory tactics.

The level of integrity and customer service you experience can vary, even within an established house-buying company that strives to maintain consistent business standards. This is because many We Buy Houses for Cash companies are franchises and often use independent investors or local wholesaling outfits. Your experience greatly depends on the character of the person or group making the offer.

If you are considering a cash offer, vet the company thoroughly. Check reviews, read testimonials, and research its presence and performance in the market. And, of course, read the buying agreement carefully before signing.

Before committing to a We Buy Houses for Cash company, HomeLight suggests you consult with a top agent to get a better idea of what your home might be worth if sold on the open market. Then compare cash offers to what a top agent might be able to get for your home. HomeLight can connect you with a top-performing agent in your market.

You can also use HomeLight’s free Home Value Estimator right now to get an initial ballpark estimate in less than two minutes.

Other options to sell your home quickly

iBuyers

Within the cash-for-homes business you’ll also encounter a particular group of companies known as iBuyers, or instant buyers.

iBuyer companies offer sellers many of the same conveniences of other house-buying operations, but they also leverage algorithmic technology, otherwise known as automated valuation models (or AVMs), to make you a near-instant offer on your home and provide a user-friendly, mostly online home sale experience.

iBuyers have only been around since the mid-2010s, but are now widely available across Alabama.

iBuyers offer all-cash and can close in a matter of days to a few weeks. But unlike more traditional We Buy Houses for Cash companies, iBuyers tend to look for homes in better condition and offer much closer to market value, typically in the 90% range — and sometimes more, particularly in a hot Alabama real estate market.

Though one thing to note is that major iBuyers like Opendoor, Offerpad, and Redfin usually charge sizable fees for their services, between 5% and 13%.

Sellers who may be a good fit to work with an iBuyer in Alabama include those who prefer to skip staging and showing their home, who live in an area with somewhat similar housing, and who have a home in relatively good shape.

Listing with an agent

You want to sell your house quickly, not in 103 days. But hear us out! With many housing markets still being largely seller-friendly, many listings are flying off the market in a matter of days, especially those that are priced strategically.

Going with an agent could pay off big time. Selling on the market generally fetches the highest home price, and that’s especially true if you work with a skilled professional. Our internal transaction data at HomeLight shows that the top 5% of Alabama real estate agents sell homes for up to 10% more than average agents.

This is a big financial decision, so it may make sense to consult with a trusted Alabama real estate agent who can complete a comparative market analysis (CMA) to help you understand your home’s value and how quickly it’s likely to sell.

Your agent may even be able to connect you with cash buyers who are willing to offer closer to market value for your home.

Plus, a CMA is usually free and you’re under no obligation to list with the agent, so this may be a good tool to explore your options. Even if you end up deciding to work with a Cash-For-Homes company, at least you’ll know you’re making a sound financial decision.

Overwhelmed by finding an agent? HomeLight would be happy to connect you with a top performer in your area today.

FAQs on Alabama house-buying companies

Are We Buy Houses for Cash companies legit or scams?

Most We Buy Houses for Cash companies are legit, and you can rest assured that this business model has been around for decades.

However, it’s always a good idea to keep an eye out for scams, or anything that just doesn’t seem right. Always thoroughly research companies ahead of time. Verify all professional licenses, check customer reviews, get a referral if possible, and vet the company on the Better Business Bureau website.

How much will We Buy Houses for Cash companies in Alabama pay?

Most Cash-For-Homes companies follow the 70% rule, meaning they’ll offer you 70% of your home’s after-repair value, minus repair costs.

Here’s what that simple formula looks like:

(Your home’s ARV x .70) – repair costs

Now let’s take a look at a practical example. Let’s say your Alabama Craftsman home could sell for $350,000 after repairs, but it’s going to need $80,000 of work to get there.

($350,000 x .70) – $80,000 = $165,000

In this example, an Alabama cash-for-homes company will probably offer you around $165,000 for your property.

However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more like 90%-95% of market value while charging a fee for their services.

How much does selling a home to a We Buy Houses for Cash company in Alabama cost?

Selling a home to a We Buy Houses for Cash company shouldn’t cost you any money, though you’ll likely get less overall for your home.

Since these companies are geared toward distressed homes, they tend to have zero fees, and will even cover your closing costs. That means the offer you get is the price you should walk away with. Make sure to ask about any hidden program fees that could eat into your bottom line.

How do you sell a house for cash in Alabama?

  1. Research and vet house buying companies available in your area. The above list is a great place to start.
  2. Submit offer requests to your top few companies.
  3. Schedule any on-site visits.
  4. Field and compare offers. Choose the best option for you.
  5. Close in a week to 30 days and get paid (or you can often choose a later closing date, up to 90 days after receiving the offer)

We Buy Houses for Cash in Alabama vs. top Alabama agent

Wondering how a We Buy Houses for Cash company stacks up against working with an Alabama real estate agent? We’ve got you covered.

Aspect of the sale Sell to a We Buy Houses for Cash company in Alabama Sell with a top Realtor in Alabama
Sale timeline 7 to 30 days 103 days average; 49 to attract an offer, 54 to close the loan
Home preparations None Make necessary repairs, deep clean, declutter, landscape, stage home
Showings None 10 to 25 showings average
Inspections / repairs None May need to make repairs for the buyer or renegotiate price
Appraisal None May need to lower the price if appraisal comes in low
Title search Cash-for-homes companies often handle title issues Must clear title before you can sell home
Financing contingency None Mortgaged buyers use a financing contingency that could hold up the deal if the loan doesn’t clear
Agent commission None 5.8% average
Closing costs None 1% to 3% of sale price on top of commission

Example net proceeds

Let’s say your coastal Cape Cod home in Mobile is currently worth about $215,000 and needs about $15,000 in repairs. Once the repairs are made, the home should be worth around $230,000.

Sell to a We Buy Houses for Cash company in Alabama Sell with a top Realtor in Alabama
Estimated sale price ($215,000 x .70) – $15,000 = $135,500 $215,000
Market preparations 0 $2,150 (1% of sale price)
Agent commissions 0 $12,470 (5.8% of sale price)
Closing costs 0 $3,225 (1.5%)
Estimated take-home for seller $135,500 $197,155

Obviously, financially it’s usually in your best interest to go with a top agent, but depending on the condition of your home and any repairs needed, selling on the open market could be challenging.

Key takeaways

  • We Buy Houses for Cash companies in Alabama can offer you a way to sell your home in as few as seven days with no repairs, showings, or hassles.
  • There are many reputable cash homebuying companies across Alabama, and most sellers going this route can find a company that suits their needs.
  • You could leave significant money on the table using a Cash-For-Homes company versus going with a top agent or iBuyer.
  • HomeLight’s Simple Sale platform provides no-obligation all-cash offers for homes in almost any condition in Alabama. Because the platform has partner investors with different buying parameters across Alabama, it can be a great starting point if you aren’t sure who would buy your home.

House buying companies can be a good alternative for Alabama sellers in need of a quick exit from homeownership, but they’re not without drawbacks. However you choose to sell your home, it’s important to avoid making a hasty decision.

For best results, take the time to weigh your options, gather offers from multiple companies, and consider consulting with a top agent to see how easily your property could sell on the market. Whatever you decide, HomeLight would be happy to help with your Alabama real estate needs!

Header Image Source: (Steven Van Elk / Unsplash)

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