Frequently Asked Questions
Loan, Financing and Pricing
Does Alvarez Construction Co. pay closing costs?
You will receive $5,000 in closing cost if you use our lending partner, GMFS Mortgage the Doug Bickley team ($3800 will come from Alvarez and $1200 from the Bickley Team). To find out more you can visit the lending corner on our page.
Do I need to obtain a construction loan?
No. We provide a turn-key home. Your only requirement is to obtain permanent financing.
How much are closing costs?
Closing costs will vary, contact your loan officer in order to determine the exact amount.
Can a buyer use their own mortgage company?
Yes, a buyer can use their own mortgage company; however, we recommend using our preferred lender the Bickley Team with GMFS Mortgage.
Do I need to get pre-qualified prior to signing the construction agreement?
Yes. This is a requirement.
I have a home that I need to sell. Would you start on my new home while I sell my current home?
Yes. We can start your home, and the construction agreement would be contingent on the sale of your current home.
Who is responsible for taxes and subdivision dues when I purchase my home?
These fees will be prorated at closing.
Does Alvarez Construction Co. build on a lot that a buyer already owns?
We are not able to build on your personal lot.
Can lots be purchased individually and then built on at a later date?
We sell finished homes and do not sell lots. You are able to reserve a lot for one week while you finalize your model selection.
Can the buyer provide labor and/or materials in order to reduce the cost of the home?
We do not allow the buyer to provide any labor and/or materials during the construction process.
Will the buyer receive a copy of the actual construction drawings?
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.
Can the buyer change name brands for appliances, plumbing or electrical fixtures?
No. In order to provide the buyer with our very best price, we have negotiated packages for our entire subdivision.
Can the buyer make structural changes to the floor plan prior to having the home built?
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.
When will my home be ready after the contract documents are signed?
Your home should be ready approximately five to six months after the contract documents are signed.
Do you have a list of available upgrades?
Yes. You may find a list of available upgrades and pricing for each community on its webpage, or you may contact your sales associate for more information.
How are upgrades paid for?
Upgrades selected at the time of the contract agreement can be added to the sales price. At your design appointment, you can select up to $10,000 of upgrades to be included in your purchase price. Any amount over $10,000 will need to be paid for at your design appointment. This amount is then considered a deposit. It can be added to your sales price and the deposit amount will be returned at the time of closing. If the purchase agreement is canceled for any reason the deposit amount is non-refundable.
When are interior and exterior selections made?
Within 10 days of signing purchase agreement.
How do I avoid going over budget when making my interior and exterior selections?
We have selections that are included in the price of the home and selections that are an upgrade. Prior to your design appointment a pricing sheet for the floor plan you are building will be sent to you to review. You can then look at the design center page on our website to see the selections in the different levels. This will give you a better idea of the final cost will be prior to your design appointment to avoid going over budget.
What type of warranty does Alvarez Construction Co. provide?
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 the Louisiana State Board for Licensing Contractors.