Frequently Asked Questions
Loan, Financing and Pricing
Q: Does Alvarez Construction Co., Inc. pay closing costs?
A: We do not pay closing costs. However, some buyers request that we add their closing costs and prepaid items (insurance and taxes) first, then add them to our sales price.
Q: Do I need to obtain a construction loan?
A: No. We provide a turn-key home. Your only requirement is to obtain permanent financing.
Q: How much are closing costs?
A: Closing costs will vary, contact your loan officer in order to determine the exact amount.
Q: Can a buyer use their own mortgage company?
A: Yes, a buyer can use their own mortgage company. Let us know if you need assistance contacting a loan officer.
Q: Do I need to get pre-qualified prior to signing the construction agreement?
A: Yes. This is a requirement.
Q: Do you require a deposit?
A: No. We do not require a deposit.
Q: I have a home that I need to sell. Would you start on my new home while I sell my current home?
A: Yes. We can start your home, and the construction agreement would be subject to the sale of your current home.
Q: Who is responsible for taxes and subdivision dues when I purchase my home?
A: These fees will be prorated at closing.
Q: Does Alvarez Construction Co., Inc. build on a lot that a buyer already owns?
A: We are not able to build on your personal lot.
Q: Can lots be purchased individually and then built on at a later date?
A: We sell finished homes and do not sell lots. You are able to reserve a lot for one month while you finalize your model selection.
Q: Can the buyer provide labor and/or materials in order to reduce the cost of the home?
A: We do not allow the buyer to provide any labor and/or materials during the construction process.
Q: Will the buyer receive a copy of the actual construction drawings?
A: We are not able to provide actual construction drawings. The construction plans are owned by the home designer, and we pay a licensing fee for each floor plan we use.
Q: Can the buyer change name brands for appliances, plumbing or electrical fixtures?
A: No. In order to provide the buyer with our very best price we have negotiated packages for our entire subdivision.
Q: Can the buyer make structural changes to the floor plan prior to having the home built?
A: We are not able to make structural changes to plans such as moving walls, windows, change ceiling heights, etc. We offer several different floor plans to choose from and a variety of choices to customize your home.
Q: When will my home be ready after the contract documents are signed?
A: Your home should be ready approximately four months after the contract documents are signed.
Q: Do you have a list of available upgrades?
A: Yes. Please check out our website to view available upgrades and pricing for each development or contact your sales associate.
Q: How are upgrades paid for?
A: Upgrades selected at the time of the contract agreement can be added to the sales price. Upgrades requested after the contract agreement is signed need to be paid at the time the change is ordered. These upgrades are not refundable regardless of any contingency.
Q: When are interior and exterior selections made?
A: You will be contacted when the foundation is poured to set up an appointment to make these selections.
Q: How do I avoid going over budget when making my interior and exterior selections?
A: All of the available selections are of the same price. This allows you to make selections without going over budget.
Q: What type of warranty does Alvarez Construction Co., Inc. provide?
A: The warranty is mandated by the State of Louisiana. It covers one year for workmanship, two years on systems, and five years on structure. For more information, please visit: http://www.lslbc.louisiana.gov/app/uploads/New_Home_Warranty_Act.pdf