4 Top We Buy Houses for Cash Companies in Dothan, AL
- Published on
- 15 min read
-
Kelsey Morrison EditorClose
Kelsey Morrison EditorKelsey Morrison is an editor for HomeLight's Resource Centers. She brings six years of editorial experience covering real estate, home design, cooking, crafting, and pet care. With a background as a commerce editor at World of Good Brands (eHow.com and Cuteness.com) and an associate editor at Livabl, Kelsey holds a bachelor’s degree in Journalism from Concordia University in Montreal, Quebec.
At HomeLight, our vision is a world where every real estate transaction is simple, certain, and satisfying. Therefore, we promote strict editorial integrity in each of our posts.
Sometimes life throws you a curve ball, and selling your house becomes a need, not a want. If you’re a homeowner in Dothan, Alabama, grappling with job loss and tight finances, or recently inherited property as an out-of-stater, you may be looking for a way to get out of that situation quickly.
“We Buy Houses” companies pay cash for homes in any condition, whether they’re due for renovations or facing foreclosure. They can also provide an easy exit for homeowners who need to move quickly, and who lack the time or resources to list on the open market. However, cash buyers typically offer less than a home’s market value, which can reduce net proceeds.
In this article, we’ll weigh the pros and cons of partnering with a local “We Buy Houses” company and highlight some of the most reputable cash buyers serving the Dothan, AL market. We’ll also look into other options for selling your home quickly. By the end, you’ll be able to make an informed decision that aligns with your home-selling goals.
Sell Your Dothan House Fast With a Cash Offer
Get an all-cash, no-obligation offer through HomeLight’s Simple Sale platform whenever you’re ready. Receive your offer in 24 hours and close in as few as 10 days. No showings, no repairs, no open houses. Available to sellers throughout Dothan.
Disclaimer: This post is meant to be used for educational purposes only and does not constitute legal or financial advice. Links and mentions of Dothan area “We Buy Houses” companies should not be considered an endorsement.
Working with house-buying companies in Dothan
When you need to sell your house fast in Dothan, working with a house-buying company can be a straightforward solution. Here are the basic steps to guide you through the process:
1. Contact the company: Find well-reviewed Dothan cash home buyers online. Narrow down your choices to a few that seem reliable, then contact them directly to begin the process.
2. Give them the details: You’ll likely be asked to fill out an online form to share details about your property, including the address, condition, age, and size.
3. Schedule a walkthrough: A representative from the company might arrange an inspection of your property to better determine its condition and market value.
4. Receive a cash offer: Once the evaluation process is complete, you’ll receive a no-obligation cash offer for your house.
5. Accept or decline the offer: Decide whether to accept the offer or explore other avenues.
6. Close the deal: If you accept the offer, you’ll work with the company to schedule a closing date. They take care of most of the paperwork, and you’ll receive your payment at the time of closing, usually via bank transfer.
Popular We Buy Houses for Cash companies in Dothan
If the convenience of selling your house to a home-buying company appeals to you, the next step is finding a trustworthy company to work with.
We’ve compiled a list of some of the top companies that will pay cash for your parents’ brick-clad ranch or Cape-style home. By selling to one of these companies, you should be able to sell your Dothan home in as little as a week or two.
Heritage Home Buyers
Heritage Home Buyers is a family-owned company based in Enterprise. The company buys houses at any price and in any condition in the Wiregrass region of Alabama, which includes Dothan. They can make an initial cash offer within 24 hours of receiving a homeowner’s property information and can close a deal in as little as seven days. Sellers can choose their closing date, and Heritage Home Buyers pays all costs associated with the sale.
Locations: Alabama Wiregrass region, including Dothan
Closing costs: Sellers pay no closing costs; Heritage Home Buyers covers them.
Heritage Home Buyers is not currently accredited by the Better Business Bureau (BBB) but does maintain a 4.5-star Google rating. Previous clients have said that the employees are easy to work with, always available to answer questions, and true to their word. “Joseph and Iris are great to work with,” reads a recent review. “Everything went exactly like they stated from the beginning and we closed less than 30 days.”
Website: heritagebuys.com
Phone number: 334-373-3587
Simple Sale (a HomeLight platform)
Simple Sale, a solution from HomeLight, is an online platform where sellers in Dothan (and across the country) can request a cash offer for their home. Simple Sale connects you to the largest network of cash buyers in the US. 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 neighborhoods throughout Dothan.
With Simple Sale, you can get a no-obligation, all-cash offer in 24 hours and sell your home in as few as 10 days, skipping the months it can take to sell the traditional way.
Locations: Nationwide, including Dothan
Closing costs: No prep costs, no agent commissions, and no fees charged by HomeLight. Individual investor fees may vary.
Simple Sale is a HomeLight platform. HomeLight was founded in 2012 and is BBB-accredited with an A+ rating. The company has 4.8 stars on Google based on hundreds of 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.
Learn more: homelight.com/simple
Phone: 844-488-8455
We Buy Houses® Dothan, AL
We Buy Houses® is a national company that has been in business since 1997. They buy homes, condos, land, and all types of real estate, regardless of condition or price range. They’re active in 30 states and over 200 markets, including Dothan. A no-obligation cash offer can be presented to you within 24 to 48 hours after an in-person inspection. If you accept the offer, it typically takes just seven to 14 days to close the sale.
Locations: Nationwide, including Dothan
Closing costs: Sellers pay no closing costs; We Buy Houses® covers them.
We Buy Houses® has been BBB-accredited since 2017 and holds an A rating. Testimonials on their website, which come from buyers all over the country, mention the company’s professionalism and easy-to-understand procedures. Clients also mention how convenient and straightforward the process was for completing the sale.
Website: webuyhouses.com/AL/dothan/
Phone number: 1-877-932-8946
Veritas Buyers
Veritas Buyers has a presence in Dothan, Alabama, and purchases homes in “as-is” condition. After completing a walkthrough of the property, they typically make a no-obligation cash offer within 24 hours. After an offer is accepted, it only takes seven to 14 days to close the sale. Veritas Buyers also pays all closing costs on the sellers’ behalf.
Locations: Statewide, including Dothan
Closing costs: Sellers pay no closing costs; Veritas Buyers covers them.
Veritas Buyers has a 5-star rating on Google based on a limited number of reviews. They do not appear to be BBB-accredited. Former clients have mentioned the company’s seamless selling process, fair offers, and kind and caring employees. “Their team has treated me with nothing but respect, and they have been completely upfront about all details,” wrote one reviewer. “Communication has always been fast and direct — when anything came up they immediately notified me and made sure that things were taken care of.”
Website: veritasbuyers.com/alabama/houston-county/dothan/
Phone number: 256-488-4055
Why sell your Dothan house for cash?
If you find yourself in a situation where you need to sell your house quickly in Dothan, AL, opting for a cash sale through a house-buying company could be the solution you’re looking for.
In Dothan, it typically takes around 84 days to sell a home on the market using a real estate agent. That includes an average of 40 days on the market, plus the typical 44 days a buyer needs to close on a purchase loan.
Compare that to the typical seven to 10 days promised by many house-buying companies in Alabama, and it’s easy to see why these Cash-For-Homes groups are an attractive option, even though they don’t always offer top dollar for the homes they purchase.
“We Buy Houses” companies are especially popular among sellers who don’t have weeks or months to wait for their homes to go from “active” to “pending.” Here are some common scenarios where selling your Dothan home for cash might make sense:
- Job relocation: Need to move for work? Selling your house for cash can speed up the process, allowing you to focus on your new gig.
- Divorce: When going through a divorce, selling your house quickly can help both parties move on.
- Inherited property: Selling an inherited property for cash can relieve you of the responsibilities associated with ownership, like property taxes and maintenance.
- Downsizing: If you’re downsizing in retirement, selling your house for cash can streamline the process and provide funds for your next chapter.
- Repairs: Avoid the hassle of costly repairs by selling your house for cash in its current condition.
- Foreclosure: Selling your house for cash can help you avoid foreclosure and settle your debts with the lender.
Going the cash buyer route can be tempting, especially if you’re in a pinch. Before you jump in, it’s important to explore all of your options to ensure you’re making the best decision for your financial future.
Pros and cons of house-buying companies in Dothan
“We Buy Houses” companies promise a quick sale and the ease of selling “as-is,” without the need for repairs. But the catch is their offers will likely be lower than market value, which could mean less money in your pocket.
Here’s a quick breakdown of the pros and cons to help you decide whether working with a cash-for-homes company is right for your situation.
Pros
- Speedy transactions: House-buying companies in Dothan offer fast closings, allowing you to sell your house quickly and move on with your life.
- As-is purchases: You can sell your house in its current condition, saving time and money on repairs and renovations.
- No contingencies: Unlike traditional sales, house-buying companies don’t require inspections or appraisal contingencies, streamlining the process.
- Convenience: Selling your house to a cash buyer eliminates the hassle of professional staging, routine showings, and back-and-forth negotiations.
Cons
- Below market value: House-buying companies typically offer less than market value for your house, so you might not get the best price.
- Limited protection: Be cautious of scams when dealing with Alabama cash buyers. Conduct thorough research to ensure you’re working with a reputable company.
- Lack of negotiation: You have little to no room for negotiation with house-buying companies; it’s often a take-it-or-leave-it offer.
- Minimal market exposure: Selling to a cash buyer means your house won’t be listed on the open market, potentially reducing visibility and competition.
Curious What Your Home Is Worth?
Get a near-instant real estate house price estimate from HomeLight for free. Our tool analyzes the records of recently sold homes near you, your home’s last sale price, and other market trends to provide a preliminary range of value in under two minutes.
Vet cash buyers and know your home’s worth
When considering a cash offer from a “We Buy Houses” company in Dothan, it’s crucial to vet the buyer thoroughly. Your experience will depend on the integrity and service of the company, so read online reviews, check testimonials, and verify its track record.
Take time to understand the buying agreement before committing to ensure you’re comfortable with the terms and conditions. By doing your due diligence, you can protect yourself and your investment.
HomeLight suggests you consult with an experienced local agent to get a better idea of what your home might be worth if sold on the open market. Then, compare it to your cash offer. HomeLight can connect you with a top-performing agent in Dothan, AL. You can also use HomeLight’s Home Value Estimator to get an initial ballpark estimate in less than two minutes.
Other options to sell your Dothan home quickly
iBuyers
iBuyers, or instant buyers, use automated valuation models (AVMs) to provide near-instant cash offers for homes in better condition, typically closer to market value. Companies like Opendoor and Offerpad provide a quick sales process, usually within a few days to two weeks. However, iBuyers often charge service fees of 5%–6% and are best suited for sellers in markets with homogenous housing.
Listing with an agent
Listing with a top real estate agent can yield quick results in seller-friendly markets. Agents often provide comparative market analysis (CMA) reports for free, helping sellers determine an appropriate listing price. An experienced agent can also leverage their network to connect you with a cash buyer willing to purchase your home for close to market value. If you’re interested in this route, HomeLight can put you in touch with a top-performing agent in Dothan.
FAQs on Dothan house-buying companies
By and large, most We Buy Houses for Cash companies in Dothan are legitimate businesses. Their services and transaction fees may differ, but the business model has been around for decades. If you use an established group with a solid track record, you can be fairly confident that it’s legit.
That said, as with any financial transaction, it’s a good idea to be on the alert for scams. Always research companies before you sign a contract. Check customer reviews, look at their online presence, verify professional licenses, get a referral if possible, and vet the company on the Better Business Bureau website. Watch for anything that just doesn’t seem right.
As described in our pros and cons list above, most Dothan “We Buy Houses” companies apply the 70% rule, meaning they’ll offer you about 70% of your home’s after-repair value minus their estimated repair costs.
Here’s an example of what a simplified formula might look like:
(Your home’s ARV x .70) – repair costs
To see how this might work in a real-world scenario, let’s take a look at an example offer equation. Let’s say your Dothan split-level home could sell for $225,000 after repairs, but it’s going to need $30,000 of work to get there.
($225,000 x .70) – $30,000 = $127,500
In this example, a Dothan “We Buy Houses” company might offer you around $127,500 for your home.
However, different types of house-buying companies will offer varying amounts for homes. As mentioned previously, iBuyers tend to pay more than We Buy Houses companies because iBuyers look for homes in better condition. An iBuyer might pay you 90% or more of market value while charging a fee for their services.
When you accept an offer from a Dothan We Buy Houses for Cash company, you will likely be coming to grips with a two-edged sword. On the one side, it shouldn’t cost you any additional money because these companies make an offer and handle almost everything once the offer is accepted. On the other side, you’ll likely get less money overall for your home.
Because We Buy Houses for Cash companies tend to focus on distressed homes, they typically have zero fees. Many will even cover your closing costs. In most cases, this means that the cash offer you receive is going to be the price you walk away with at the end of the deal. Of course, it’s always a good idea to flat-out ask the company if there are any hidden program fees that might impact your bottom line.
1. Research and vet the house-buying companies that serve your Dothan area. Our list above is a good place to start.
2. Submit offer requests to a few of the companies you like best.
3. Schedule any required on-site property visits.
4. Compare offers. Weigh the pros and cons and choose the best option for you.
5. Close the sale in a week to 30 days and get paid. (Some companies will let you choose a closing date up to 90 days after accepting the offer, which can be helpful when planning a move.)
We Buy Houses for Cash in Dothan vs. top Dothan agent
Another helpful exercise is to compare how a We Buy Houses for Cash company might stack up against working with a real estate agent. Let’s take a glance at how different aspects of the sale might look and compare possible proceeds.
| Aspect of the sale | Sell to a We Buy Houses for Cash company in Dothan | Sell with a top Realtor in Dothan |
| Selling timeline | 7 to 30 days | 84 days average; 40 to attract an offer, 44 to close the loan |
| Home preparations | None | Deep clean, declutter, make necessary repairs, landscape, stage home |
| Showings | None | 10 to 25 showings average |
| Inspections / repairs | None | May need to make additional repairs for the buyer or renegotiate the price |
| Appraisal | None | May need to lower your asking price if the 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 buyer’s loan doesn’t clear |
| Agent commission | None | 5.8% average |
| Closing costs | None | 1% to 3% of the home sale price on top of agent commission |
Example net proceeds
Below, we’ve put together one example of how net proceeds may differ between selling a home to a We Buy Houses for Cash company and an agent-assisted sale.
Let’s say your home in Dothan is currently worth about $200,000 and needs about $25,000 in repairs. Once the repairs are completed, the home might be worth around $225,000.
| Sell to a We Buy Houses for Cash company in Dothan | Sell with a top Realtor in Dothan | |
| Estimated sale price | ($225,000 x .70) – $25,000 = $132,500 | $200,000 |
| Market preparations | 0 | $2,000 (1% of sale price) |
| Agent commissions | 0 | $11,600 (5.8% of sale price) |
| Closing costs | 0 | $3,000 (1.5%) |
| Estimated take-home for seller | $132,500 | $183,400 |
As this example illustrates, financially, it’s usually in your best interest to partner with an experienced real estate agent.
However, net proceeds are not the only consideration when selling a home. What’s best in your situation will depend on the condition of your property, what level of repairs are needed, and your selling objectives. It could be that selling on the open market will be a challenge in your area, or the agent timeline might not fit your immediate needs.
Key takeaways
- “We Buy Houses” companies offer a fast and hassle-free selling process without the need for repairs, open houses, or showings.
- It’s important to research each company thoroughly and understand your home’s market value before making a decision.
- Expect to sell for less than market value with “We Buy Houses” companies compared to what you might get with a top real estate agent or iBuyer.
- Try HomeLight’s Simple Sale platform for an easy, no-obligation cash offer on homes in any condition in Dothan. With a range of partner investors, it’s an ideal place to start if you’re unsure who might be interested in buying your home.
If you’re a homeowner in Dothan and looking for a speedy sale, house-buying companies can be a great option, but it’s crucial to think this decision through. Rushing into selling your home might not always be the best move.
It’s a good idea to shop around for various cash offers and really consider what’s on the table. Chatting with a top Dothan agent could give you valuable insight into how quickly and for how much your home could sell on the open market. No matter what route you take, HomeLight is ready and able to support you on your home-selling journey.
Header Image Source: (Ernest_Roy/Pixabay)
