Rating Newest Oldest. Best Answer: The lowest price I've found in Southern California is $125.00 per square foot which is extremely reasonable. Most builders charge more than that. That price is for a 2000 square foot ranch style home with three bathrooms, and a three car garage.est Answer: The lowest price I've found in Southern California is $125.00 per square foot which is extremely reasonable.
Normally, the patching, painting, and floor work are repairs and the other expenses are permanent improvements. However, because the work gives your property a new use, the entire remodeling job is a permanent improvement and its cost is added to the basis of your property.
You or the seller repair what they are asking for and get it reinspected and then close. If you are in love with a house that doesn't look like it will pass, you can always do a 203(k) rehab loan.Ask your lender about that option. Let me know if you have any questions! Source(s): Mortgage loan officer for the past 10 years, real estate paralegal for 10 years prior.nyway, the mold inspection came back toxic and requiring over $200,000 to clean up the house. The house was selling for $75,000. My borrowers were extremely happy that I did not listen to them. Just because a house is old does not mean that it won't pass. I have financed plenty of older homes with FHA financing.