Bay Area

[Andiamo]

Before calling some contacts for estimates, I would like to ask everyone for a ballpark number regarding the subject a 3/2 1600 Sq. Ft. house in the Monterey Peninsula area. The pictures indicate it needs new stucco on part of the house, literally half Lol, and dry wall on the inside including a bathroom. It also lacks a heating system. I will post more info after some more investigation but any help is appreciated.

[tjh]

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Andiamo wrote:

It also lacks a heating system.

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Andiamo:

I was told, when faced with a similar situation in the past, that this was a deal breaker for lenders.  No heating system, no loan.

Well, to be fair. The home was built in the late 1950s on five acres in the countryside with a giant great room and a gargantuan fireplace along one wall.  The family had resided there from its construction through the late 1990s when I was looking at it, and had always heated it with that fireplace as necessary. So the lack of a heating system didn't stop the original owners from living in it or using whatever financing, if any, they had.

[elt1]

Conventional lenders will not loan on this house. There may be outstanding liens, permit/code issues. The price should be half of a finished house. You may have to tear out the work down.