Eric Tolman of Genesis RE Holdings (ASDM Homes) is a local cash home buyer in San Joaquin and Stanislaus counties, California, helping homeowners sell houses that need repairs, as-is, on their own timeline. A cash offer on an older Stockton house starts with one question: what will the house be worth once it is fixed up? From there, Eric takes out the cost of the repairs, the cost of holding and selling the house, and the money he needs to make for doing the work. He walks you through each piece, so you know where the number came from.

What does Eric look at when he walks through your house?

Stockton has a lot of older homes. Many of them have been lived in for a long time. They have stories, and they often have repairs that have been put off.

When Eric comes out, he does not walk in with a clipboard listing everything wrong. He asks you about the house. When was the roof done? Has the plumbing ever been redone? Which rooms were added on, and when? What was life like in this home?

He asks because he needs that history to price the repairs right. A kitchen that looks fine might have old wiring behind the walls. A bathroom that looks rough might only need surface work. Your answers help him get closer to the real cost, instead of guessing high to be safe.

He also looks at the basics:

• The size of the house and the lot
• The roof, the foundation, and the big systems like plumbing and electrical
• The kitchen and bathrooms
• Any add-ons or garage changes
• What similar fixed-up homes nearby have sold for

How do repairs change the number?

Repairs are the biggest part of most offers on older homes. Every dollar Eric will spend fixing the house comes out of what he can pay you for it.

That is why he takes his time on the walkthrough. If he skips over a problem, he may have to cover it later. If he guesses too high, your offer comes out lower than it needs to be. Getting the repair list right is fair to both of you.

You do not have to fix anything before he comes out. You do not have to clean or clear it out, either. He buys the house as-is, the way it sits today.

How does Eric make money on your house?

It is a fair thing to ask, and Eric answers it plainly. In his own words: “I will be putting money into it so I can sell it later.”

Here is what that means. Eric buys your house with his own money. He pays for the repairs. He pays to hold the house while the work gets done, like taxes, insurance, and utilities. Then he pays the costs to sell it when it is finished.

After all of that, he needs something left over. That is his pay for taking on the risk and running the work. If he did not make money, he could not keep buying houses.

So the offer is built like this:

1. What the house will likely sell for after it is fixed up
2. Minus the cost of the repairs
3. Minus the cost to hold and sell the house
4. Minus Eric’s profit for doing the work

What is left is your offer. Eric will show you how he got there.

Why is a cash offer lower than what a fixed-up house sells for?

Because you are not selling a fixed-up house. You are selling the house as it is now, and someone else is taking on the work.

When you sell to Eric, you skip the repairs, the showings, and the waiting. You do not pay agent fees. You pick the closing date, and it can be in as little as 2 weeks. If life changes, the date can move with you.

That ease has a cost, and it shows up in the number. For some sellers, that trade makes sense. For others, it does not. Both are fine.

What if you need time to think about the number?

Take it. Many sellers hear the offer and say, “I need to think about it.” That is a normal answer.

Eric does not put a deadline on you or push you to sign that day. Talk it over with your family. Look at your other options. Ask him any questions that come up. A clear, explained number is easier to think about than a number that shows up with no reasons behind it.

Your options, side by side

Listing with an agent can bring in more money, especially if your house is in good shape. You may need to make repairs first, keep the house ready for showings, and wait for a buyer and their lender. You will usually pay agent fees and some closing costs.

Selling as-is to a cash buyer like Eric means no repairs, no showings, and no fees. You pick the closing date, in as little as 2 weeks. The offer will be lower than a fixed-up sale, because the buyer is taking on the work.

When an agent is the better fit: if your house is in great shape, you want full market value, and you have time to wait, list it. Eric will tell you that himself. A cash sale makes the most sense when the repairs are more than you can take on, or when you need it done on your schedule.

Frequently asked questions

Do I have to fix anything before Eric comes out?

No. You can leave the house just as it is. Eric buys houses as-is, repairs and all.

Does Eric come to the house himself?

Yes. Eric comes out and meets you in person. He has almost 20 years of buying and fixing up homes in San Joaquin and Stanislaus counties.

Will Eric explain how he got to the offer?

Yes. He walks you through the main pieces: the likely value after repairs, the repair costs, the holding and selling costs, and his share. You will know where the number came from.

How fast can I close?

In as little as 2 weeks. You can also pick a later date if that works better for you.

If you have an older house in Stockton and want to see what a cash offer would look like, call Eric at 209-867-7669 or visit asdmhomes.com. He will come out, hear the story of your home, and explain his number. Then the choice is yours.