Odyssey Home Solutions, LLC

06/01/2019

Buying or selling your home comes with a lot of unforeseen and unknown costs –

Selling Your Home

Right off the bat -If you own the home expect 8-10% of the sale price. No small price. Let's break the math down:

100k- sale price x .8 / .10 = 8k to 10K. But this covers a lot of fees, below are a few to be considered

Real estate agent commission - 3% normally + Buyers commission also @ 3%-totaling 6%
Escrow fees
Title insurance
Prorated property taxes
Attorney fees
HOA fees - situation dependent
Credits towards closing costs

Of course you can reduce costs by selling your home yourself, you know FSBO (For Sale By Owners), however, beware, this is not easy, you could be in for a rude awakening, Texas uses standard residential forms (TREC - Texas Real Estate Commission) these forms are REQUIRED, no homemade online GURU forms. Although it will save you nearly 6k on the 100k sale, the hassle involved is too much for some to bear.

Additional costs to consider include loan repayment fees (as some mortgages have a prepayment penalty or cancellation costs), any home improvements and repairs you had to do to make your house look more attractive to buyers, relocation costs as well as tax liens and code violations.

Buying a Home

Other than the cost of the property itself, there are other expenses associated with buying a new home that can amount to, on average, 2-4%. Let's do the math:

100k x .2 /.4 = 2k to 4k out of pocket.

Didn't know that you had to fork over cash at closing, did you?

Appraisal fees, Mortgage application fees
Mortgage origination fees, Attorney Fees
Closing Fees, Inspection Fees
Prepaid interest, Prorated property taxes
Tax servicing fees, Title insurance
Notary fees and Insurance

Although using a realtor is a great option to assist with your home sale or purchase, alternative options are available. Investors are willing to purchase your property "AS IS", for FAIR market value (this means what it can be sold for in the condition it is CURRENTLY in) and can normally close on your timeline without you worrying about all the additional hassle. Contact Odyssey Home Solutions TODAY @ 210-343-1986 and see how we can help you!

05/20/2019

Selling to an investor...

There are different types of investors out there that you can turn to to sell your property.There are positives and negatives to each I will highlight just a few here:

Big name investors:

These are the ones you recognize on billboards, in stores and TV ads. They have huge budgets and have a large marketing campaign to earn your business. They purchase multiple properties monthly and are very knowledgeable in multiple strategies in helping you to sell your home. MOST if not ALL are brokerage firms (Realtors) that have multiple outlets and deep pockets. On the flip side these type of investors will low-ball you on their offer because you came to them. Most are realtors who really have no idea about how to accurately price your home for repairs and most will tell you want you want to hear to sell your home. Many do not care about your situation and place multiple restrictions on your sale, always have hidden fees, and a large staff that they need to support which means less money in your pocket.

Just starting out investors

First let me preface this by saying the reasons that there are small companies vying for your business is they see a substantial problem with how real estate is being sold. As a previous homeowner, I never understood why I had to sell my property and someone else received a commission for that sale, especially since I had to put money in it to fix all the repairs and bring it up to code and still lose money after the sale..

Small time investors do not generate multiple houses per month, normally 1-2. Investors are skilled at determining estimated costs, understand what you home is currently values and the market and what it will be worth after updated repairs. These type of investors will actually listen to your issues and attempt to resolve many of the issues that you may be facing,, have a small staff (many go solo), no hidden fees, pay closing costs and 99% of the time close on your timeline. A good investor will bend over backwards to assist you during the sale, With positives there are negatives. On the flip side, many investors get into the market hoping to make quick cash, many are incapable of estimating repairs and do not understand market value and do not understand the basic premise that sometimes homeowners fall on hard times and need ASSISTANCE. These type of investors are the ones to walk away from, if they do not ask you somple questions as to why are you selling your home and then ask follow up questions and most importantly "How can we help", walk away FAST. But as the homeowner please research and determine what avenue is best for you.

Best of Luck and if there is anything I can assist you with with selling your home, drop me a line @ 210.343.1986, I will do my very best to help you. Take care

RJ

04/13/2019

Trying to sell your home with foundation issues?

Well, first and foremost, you are not alone, numerous homes in Bexar County have foundation issues or what realtors like to call "settling". Inexperienced realtors may say that it is normal and not an issue, or some may state that it is relatively cheap to repair, from experience. 99% of foundation issues are costly depending on the severity of it, location and if any previous prior repair was done to it. Some questions that you should ask yourself.

1. Do I have to disclose to the realtor or potential buyer that there are foundation issue ..If you know about it, then YES, you are required to annotate it on the sellers' disclosure form, failure to identify and the buyer can pull out of the contract

2. Is it easy to sell? Ask yourself this before you answer, If you found a home and saw that it had foundation issues, would you purchase it? Many homeowners are selling to potential buyers who do not have the additional income to fix issues after they move in, they expect a "move-in" ready home. Why would they purchase a home with repairs needed when they can go a block over and purchase another home?

3. Are repairs expensive? Average costs can range 2K-25K, again dependent on soil makeup, has it affected the structure of the house? are lifts required, what material is the homemade of?

4. How Do I know if I have a foundation issue? The easiest way is to go outside and do a walk-around of your property and see if there are any cracks in the concrete base foundation that have a crack running diagonally in either direction. Exterior brick siding is easiest to identify this as the cracks normally run in conjunction with the mortar lines in between each brick. Another method and also very simple is to place a pencil on the possible area inside the home and see if the pencil rolls without applying effort.

5. So How can I sell my house then? Unless the potential buyer is adamant on purchasing your home and willing to put the time, effort, and money into repairing the foundation, another option is to talk to a real estate investor who is experienced and willing to purchase your home "AS IS". Bear in mind that investors have an experienced team of contractors who deal with these issues and will give honest estimates on the repair costs.

6. Why should I go with an investor vs. a realtor? Truth sometimes hurts..but here goes. Realtors are independent contractors, they get paid when your home sells, they are well aware of the associated costs with foundation issues and will often tell you that they have sold hundreds of homes in the same condition just to get an exclusive right to sell with you, pressuring you into a contract with their broker. The realtor will place the listing on the MLS,preach about how they are going to get you above market value for your home, work for you for about the first 30 days of the normal 180 day contract, have multiple showings, no offers and then say to you that you have to lower the asking price, knowing very well that it is the foundation issue that is causing your home not to sell. What do you get out of it? A house that may sell, but more than likely sits on the MLS for 6 mos not sold, while you continue to pay the mortgage, utilities, and taxes. If by some chance the home does sell, it will be far below the asking price and guess where that loss will come from? your cut of the equity you had in the house over the years you lived in it. The realtor will still get their fee and you will be less off. An investor, on the other hand, will give you a fair market value for the home minus repairs, closing and ppwk fees, close on your schedule and you walk away with money in your pocket minus all the hassles...Which would you prefer?

So you do have options and choices, choose wisely, it doesn't hurt to call OHS and get an honest upfront free inspection of your home prior to signing a contract with a realtor, remember, realtors are in it for themselves, we at OHS seriously want to help you out with your issues. Give us a call!

04/12/2019

Selling your home to an Investor

One possible avenue that you may be considering is to sell your home to a real estate investor.

Investors buy homes for cash, update, and repair as needed to resell and most importantly to help homeowners out of sometimes difficult situations.

Selling your house to an investor is a straightforward and easy process.

When speaking with an investor try to help the investor with as much information as possible so that they understand your concerns and will work hard with helping you.

The home will be inspected, usually at the time of the get-together and usually after 30 min, will generate a FAIR, market value CASH offer for your home. If you like the offer, a contract will be generated within 24 hours and the great option is that it can close usually very quickly (if there are no probates, multiple properties contesting the sale or outstanding judgments or property disputes) normally within 7-10 days or on your timeline. Let us know how we can help today!

01/26/2019

Are you in need of help with selling your home, take a minute and see how I can help..

01/03/2019

Wishing everyone a Happy and successful 2019!

12/20/2018

Trying to sell your home with foundation issues?

Well, first and foremost, you are not alone, numerous homes in Bexar County have foundation issues or what realtors like to call "settling". Inexperienced realtors may say that it is normal and not an issue, or some may state that it is relatively cheap to repair, from experience. 99% of foundation issues are costly depending on the severity of it, location and if any previous prior repair was done to it. Some questions that you should ask yourself.

1. Do I have to disclose to the realtor or potential buyer that there are foundation issue ..If you know about it, then YES, you are required to annotate it on the sellers' disclosure form, failure to identify and the buyer, can pull out of the contract.

2. Is it easy to sell? Ask yourself this before you answer, if you found a home and saw that it had foundation issues, would you purchase it? Many homeowners are selling to potential buyers who do not have the additional income to fix issues after they move in, they expect a "move-in" ready home. Why would they purchase a home with repairs needed when they can go a block over and purchase another home?

3. Are repairs expensive? Average costs can range 2K-25K, again dependent on soil makeup, has it affected the structure of the house? are lifts required, what material is the home made of?

4. How Do I know if I have a foundation issue? The easiest way is to go outside and do a walk-around of your property and see if there are any cracks in the concrete base foundation that have a crack running diagonally in either direction. Exterior brick siding is easiest to identify this as the cracks normally run in conjunction with the mortar lines in between each brick. Another method and also very simple is to place a pencil on the possible area inside the home and see if the pencil rolls without applying effort.

5. So How can I sell my house then? Unless the potential buyer is adamant on purchasing your home and willing to put the time, effort, and money into repairing the foundation, another option is to talk to a real estate investor who is experienced and willing to purchase your home "AS IS". Bear in mind that investors have an experienced team of contractors who deal with these issues and will give honest estimates on the repair costs.

6. Why should I go with an investor vs. a realtor? Truth sometimes hurts..but here goes. Realtors are independent contractors, they get paid when your home sells, they are well aware of the associated costs with foundation issues and will often tell you that they have sold hundreds of homes in the same condition just to get an exclusive right to sell with you, pressuring you into a contract with their broker. The realtor will place the listing on the MLS,preach about how they are going to get you above market value for your home, work for you for about the first 30 days of the normal 180 day contract, have multiple showings, no offers and then say to you that you have to lower the asking price, knowing very well that it is the foundation issue that is causing your home not to sell. What do you get out of it? A house that may sell, but more than likely sits on the MLS for 6 mos not sold, while you continue to pay the mortgage, utilities, and taxes. If by some chance the home does sell, it will be far below the asking price and guess where that loss will come from? your cut of the equity you had in the house over the years you lived in it. The realtor will still get their fee and you will be less off. An investor, on the other hand, will give you a fair market value for the home minus repairs, closing and ppwk fees, close on your schedule and you walk away with money in your pocket minus all the hassles...Which would you prefer?

So you do have options and choices, choose wisely, it doesn't hurt to call OHS and get an honest upfront free inspection of your home prior to signing a contract with a realtor, remember, realtors are in it for themselves, we at OHS seriously want to help you out with your issues. Give us a call!

12/17/2018

Most expensive home repairs

Home Repair Cost - The older the property the higher the repair cost due to costs associated with the need to meet current city code requirements. Below is just a sampling of costs associated with home ownership.

HVAC Repairs $100 – $2,000
Water Heater Repairs $100 – $1,400
Electrical Repairs $125 – $3,000
Asbestos Removal $500 – $4,500
Roof Repairs $150 – $25,000
Septic Tank Repairs $200 – $5,000
Deck Repairs $250 – $5,000
Mold Removal $250 – $5,000
Foundation Repairs $500 – $25,000
Siding Repairs $100 – $12,500,

When investors come to take a look at your home as a potential buy, repair / replace factors are key when evaluating a FAIR market value for your home.

All information obtained from www.homeadvisor.com

Have a great Day!

07/30/2018

What are the advantages of selling to a real estate investor

There are multiple advantages to selling to a real estate investor compared to the “traditional” real estate agent process:

No Realtor Commissions. Wen using a realtor, charges for listings on the MLS pay upwards of 6% realtor commissions


Real estate investors charge no commission, buy “as-is”, close fast, and make cash offers in under 24 hours.

“As-Is” Sale. Investors buy “as-is”. The seller makes no repairs. Real estate investors “earn their profit” by acquiring houses that need renovations that the owner didn’t have the willingness or ability to fix. Regular home buyers haggle about repairs which substantially delays home sales.

Offers in 24-Hours. Cash home buyers make offers daily (if not hourly!). It takes investors just a few minutes to put together an offer. Unlike regular buyers, there is no lengthy deliberation to figure out what the investor will pay.

Fast Closing. Investors close in days. The Mortgage Reports found conventional mortgages take 30-45 days to close and on occasion even longer. Professional buyers also close quick because there is no negotiation about condition on “as is” sales. Fast closing saves you on-going expenses for taxes, insurance, daily maintenance, and utilities.

One Showing/Inspection. Realtors listing on the open market schedule many showings to generate as many offers as possible. Open houses attract “tire kickers” with no plans to submit an offer. Investors just need a single walkthrough to inspect taking on average 15-30 minutes.

Real estate investors will look at all different properties to assist home sellers with their issues such as distressed homes, fire damage, foundation issues, probates, code violations, REO, foreclosures and tax assessed properties as well. Don't overlook this valuable resource when determining a path forward.

07/20/2018

If you'd like to sell your home without the hassle or cost
of real estate agents, then please give us a call at
210-343-1986

We're a local real estate investment company located right
here in BEXAR County and we buy and sell houses all across
greater BEXAR County.

We buy houses in any condition from people in all types of
situations.

There are MANY benefits to selling your house directly to
us:

1) We can make you an offer to purchase the property within
24-48 hours of first contact.

2) You can save yourself anywhere thousands of dollars in
commissions (no agents needed).

3) We'll buy the house "AS-IS", and will never ask you to
make a single repair.

4) You don't have to clean the house before showing it to us
or when you move out (we'll donate or dispose of anything
that you choose to leave behind).

6) We can pay all cash (no appraisal contingency to worry
about).

7) We can close in whatever time frame works best for you
(even as quickly as 14 days).

8) No weekends lost to fruitless showings with people
parading through your home, hoping for an offer.

Our goal is to make this an easy real estate transaction
that gives you the most privacy while saving you $$$ in
commission fees.

Visit our website and call today to get the process
started.

Being informed is the key to a smooth and successful home purchase. We want to arm you with the knowledge to make the best decisions and save you valuable time, money, and stress. A brief phone conversation with us may be life-changing. Whether you are looking to purchase a home for you and your fam...