Top 5 We Buy Houses for Cash Companies in Mobile

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By Thomas O'Shaughnessy Updated August 17, 2022

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The best We Buy Houses companies in Mobile | How they work | Costs | Pros and cons | Alternatives | FAQs

When you need to sell your house fast or can't afford massive repairs, selling to a We Buy Houses for Cash company may be your only option. In Mobile, it can take 94 days to sell your home with a traditional agent. Compare that to a cash buyer that can complete the transaction in one to two weeks, with no out-of-pocket expenses.

💡 Key takeaways

  • We Buy Houses companies can help you sell fast, but they're not a great deal in most cases
  • You'll only get about 70% of the actual fair market value of your home by selling to one of these companies
  • You should compare offers from We Buy Houses companies and iBuyers in your area to make sure you get a fair price. Get offers from top local cash home buyers now!

Top Mobile We Buy Houses companies reviews

We Buy Houses companies and other cash buyers allow you to sell your home fast — sometimes in a week or less. We've pulled together some of your best options in Alabama, but we recommend using Clever Offers if you want to get the most value for your home.

With Clever Offers, a local agent can shop for cash offers from the top We Buy Houses companies in Mobile on your behalf. You'll also get a professional home valuation so you know what your home is REALLY worth. Your agent can negotiate to get you a fair deal, or list your home on the open market if you want a higher sale price.

Get fair cash offers today!

Use Clever's free, no-obligation service to compare cash offers from top local companies with the help of a local real estate agent. You'll get a professional home valuation so you know what your home is worth, and an agent can negotiate on your behalf to make sure you get the best deal.

✍️ Editor’s note
These businesses make few public disclosures, so it can be difficult to find information. We recommend contacting multiple companies for terms and offers on your property to get the best deal.
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Yellowhammer Investment Group

Yellowhammer Investment Group

Phone Number

(251) 220-5960

Time to Offer

24 hours

Minimum Time To Sell

7 days
Description
Locations
Reviews

Yellowhammer Investment Group is a local property investor that buys homes for cash in Mobile, Alabama and the surrounding areas. To sell your home to Yellowhammer Investment Group, you can:

  • Submit an online form, giving details about your property
  • Schedule a meeting for a representative to see your home
  • Receive a no-obligation offer
  • Choose a closing date and sell your home

For more information, including specific areas of operation, terms of service, and other details, we recommend reaching out to the company directly.

Yellowhammer Investment Group buys homes in the Mobile metro area.

Yellowhammer Investment Group received an average of 4.6 stars from 25 customer reviews. It's accredited by the Better Business Bureau, and it has an A+ rating.

Google: 4.3 stars/19 reviews
Facebook: 5 stars/12 reviews

251HomeBuyers.com

251HomeBuyers.com

Phone Number

(251) 706-6395

Time To Offer

24 hours

Minimum Time To Sell

7 days
Description
Locations
Reviews

251HomeBuyers.com is a local property investor that buys homes for cash in Mobile, Alabama and the surrounding areas. To sell your home to 251HomeBuyers.com, you can:

  • Submit an online form, giving details about your property
  • Schedule a meeting for a representative to see your home
  • Receive a no-obligation offer
  • Choose a closing date and sell your home

For more information, including specific areas of operation, terms of service, and other details, we recommend reaching out to the company directly.

251HomeBuyers.com buys homes in the Mobile metro area.

251HomeBuyers.com received an average of 5 stars from 6 customer reviews. It's not accredited by the Better Business Bureau but has an A+ rating.

Google: 5 stars/6 reviews

Nexus Homebuyers

Nexus Homebuyers

Phone Number

(855) 999-0025

Time to Offer

24 hours

Time to Sale

7 days
Details
Locations
Reviews

Nexus Homebuyers is a network of property investors that buys homes for cash in select states. To sell your home to Nexus Homebuyers you can:

  • Request an offer online or call to provide the details of your home
  • Meet with a Nexus Homebuyers employee to assess the property or submit photos online
  • Choose a closing date that works for your schedule

Nexus Homebuyers currently services:

Nexus Homebuyers received an average of 4.9 stars from 21 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.

Google: 4.8 stars/20 reviews
Yelp: 5 stars/1 review

ASAP Cash Home Buyers

Website

Phone Number

(866) 350-6769

Time to Offer

5 minutes

Time to Sale

7 days
Why we chose it
Details
Locations
Reviews

ASAP Cash Home Buyers has local investors in locations across the U.S. and it's backed by a large national brand.

ASAP Cash Home Buyers is a national service that partners with local investors. In general, you can sell your house to ASAP Cash Home Buyers by:

  • Filling out the initial online assessment
  • Receiving an in-depth property analysis and valuation, plus a no-obligation cash offer
  • Considering the offer as long as necessary, no time restrictions
  • Closing within a week, or on your own schedule

You should connect with the local partner or franchise to get more details on how you can sell your home. Also know that experiences will vary from region to region, based on the local investor you’re paired with.

ASAP Cash Home Buyers provides local services in all 50 states.

ASAP Cash Home Buyers received an average of 3.7 stars from 3 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.

Google: 3.7 stars/3 reviews

Fast Home Offer

Website

Phone Number

888-424-4722

Time to Offer

1-2 days

Time to Sale

7-14 days
Why We Chose It
Details
Locations
Reviews

Fast Home Offer combines the expertise of local buyers with the purchasing power of national investors. It can close on a home sale in just one or two weeks.

Fast Home Offer is a national service that has partnered with local investors across the country to buy houses for cash.

Steps to sell with Fast Home Offer:

  1. Submit a form on Fast Home Offer's website, and a local investor will contact you to gather more information about your home
  2. It's possible that a cash offer can be made on the phone, but if not, schedule a visit for the investor to view the property. After the property is evaluated, the investor may present an offer
  3. Once an offer is accepted, a closing date can be set within 7-14 days, depending on your individual situation

Fast Home Offer received an average of 3 stars from 4 customer reviews. It's accredited by the Better Business Bureau and it has an A+ rating.

BBB: 3 stars/4 reviews

How We Buy Houses Companies work

To buy homes quickly and make a profit, most We Buy Houses for Cash companies in Mobile use the same process:

  1. A homeowner submits information about their property, and the cash buyer decides if the home fits their criteria for a profitable investment. If the house fits the investor's criteria, they may give the seller a rough estimate of what they'll pay.
  2. A representative from the company will evaluate the property and, based on the repair costs and resale value, they'll make a cash offer.
  3. If the seller accepts, closing happens quickly; there's no need for inspections, appraisals, or financing approval.
  4. The Mobile We Buy Houses for Cash company makes repairs and sells it, earning a substantial profit.

Compare this speedy process with the traditional home selling process:

  1. If your home needs extensive repairs, it can take months (and tens of thousands of dollars) to complete.
  2. In Mobile, a home typically spends 64 days on the market before the seller receives an offer.
  3. The closing process can take an additional 30-45 days if the buyer applies for a traditional mortgage. You'll have to deal with appraisals, inspections, and further negotiations with the buyer.
  4. If financing is denied, or another issue occurs with the buyer, the house has to go back on the market and the cycle starts again.

Mobile We Buy Houses companies pros and cons

We Buy Houses for Cash companies are an extremely beneficial option for certain sellers like:

  • Homeowners facing foreclosure
  • People who've inherited unwanted property
  • Homeowners who can't afford extensive repairs
  • Homeowners who need to sell fast, due to divorce or other issues

Pros of using We Buy Houses companies

  • Cash offers mean speed and certainty: The longest portion of the home selling process involves buyer financing. Cash buyers don't need to go through this lengthy process, though, since they have access to immediate capital.
  • No need for repairs: These companies make lower offers to account for repair costs. This solves the difficult problem of finding a buyer if you’re selling as-is on the open market.
  • Lower costs: Selling a house is expensive. There are associated costs like concessions, carrying costs, and commissions that reduce a seller's profits. We Buy Houses companies allow sellers to avoid those costs.

💰 Homeowners can usually avoid these expenses by selling to a cash buyer:

  • Closing costs: In most cases, We Buy Houses for Cash companies cover typical closing costs.

  • Seller concessions: During negotiations, sellers often agree to pay a percentage of the buyer's closing costs — also known as seller concessions. In Alabama, it's common to offer 2.6-3.5% in concessions to close the deal. Since there are no negotiations with a cash buyer, there's no need to offer seller concessions.

  • Agent commissions: The average commission in Alabama is 5.5%. Since selling to a We Buy Houses for Cash company doesn't require an agent, homeowners avoid paying commissions.

  • Carrying costs: Every day that a seller owns a home it costs money. Expenses like mortgage payments, insurance, and property taxes can add up to $54 a day in Alabama, on average. Since these companies close much faster than a traditional sale, the total carrying costs are lower.

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Cost to sell to a cash buyer vs. a traditional sale

Cons of using We Buy Houses companies

  • Take-it-or-leave-it offers: There is no negotiating with We Buy Houses for Cash companies. Their representatives evaluate your home and necessary repairs to arrive at a price. If you disagree, your only option is to walk away.
  • Predatory tactics: Often, homeowners who consider using these companies are facing difficult life situations. Some "opportunity investors" take advantage of these situations and pressure sellers to accept low offers.
  • Lower offers: Even by avoiding other selling costs, selling to a We Buy Houses company still leads to a lower take-home amount because their offers are never more than 70% of after-repair value (ARV).

Consider an example where the home needs 10% of its ARV in repairs. If you sold to a cash buyer, they would deduct that from their offer. If you sold with an agent you could cover that 10% in a variety of ways (by offering lower price, repair credits, etc.).

Alternatives to We Buy Houses companies in Mobile

We Buy Houses for cash companies are never your only option. It's important to weigh all important factors (like time to sell, take-home amount, and convenience) before making a decision.

Let's look at a breakdown of how much a seller in Mobile could walk away with through three different options: selling to a cash buyer, selling with a traditional realtor, and selling with a discount real estate company like Clever.

We'll use the median listing price in Mobile, which is $249,950, and relevant selling cost rates (closing costs, repair costs/credits, carrying costs, etc.)

Mobile home selling cost breakdown

As you can clearly see in the table above, We Buy Houses companies help people quickly sell their homes. However, your other options are much better in the long run, so if you have time, using a We Buy Houses company is almost never the best option.

💰 Clever can help you sell fast and net more money!

Cash buyers can be a good option if you need to unload an unwanted, distressed property fast. However, if you want to sell quickly without sacrificing a ton of equity, Clever is one of your best alternatives.

Clever sellers typically get offers 2.8 times faster than the national average AND save an average of $7,000 in realtor fees.

Frequently asked questions about Mobile We Buy Houses companies

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

As real estate investors, cash buyer companies need a buffer that increases their chances of a profit. This is where the 70% rule comes in.

Essentially, the 70% rule says a cash buyer shouldn't pay more than 70% of the property's After Repair Value (ARV) — what they hope to sell the house for in a fair market — minus repairs. This gives them some wiggle room if the house's condition is worse than suspected or it takes longer to resell the home.

Are We Buy Houses for Cash companies scams?

Most cash buyers are legitimate companies that have been buying homes in their communities for years. But there are bad apples.

Don't be taken advantage of.

Make sure the offer you receive is legitimate and worth your consideration:

  • Never sign a contract without reading it or when you feel pressured to do so.
  • Check online reviews of the company. Note that many of these companies have similar names, so double-check that you're looking at the right one.

Additional resources for home sellers in Mobile

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