F.A.Q | Glossary of Construction Terms | Warranty Information

F.A.Q.

Our team understands that the construction of a new home can be confusing at times. Olsen Custom Homes wants to make your home buying experience a satisfying one so we have taken this opportunity to provide you with some definitions of construction terms that you may hear as well as some frequently asked questions about the construction process. If your questions are not answered here, please feel free to contact us for clarification.

When should I apply for a new home loan?

Once you have made the decision to purchase a new home, contact your mortgage lender and pre-qualify for your loan. If you do not have a lender relationship already, please feel free to contact SunTrust Bank. Loan applications may take up to 6 weeks, so the sooner you begin the process, the better. It is advisable that you do not wait more than five days after contract to begin to secure your mortgage loan.

Who should I contact with questions, concerns, changes, etc., throughout the construction process?

Eric Olsen, President and Builder, is the first person that you should contact to address changes to your original home design. He will be happy to answer any other questions that you may have regarding your new home. Shelly Olsen, Vice President, can also assist you with questions and concerns that you have during this time. Olsen Custom Homes encourages you to communicate with our professional team to make sure all of your needs are addressed prior to the completion of your home.

After the contract is signed, can I make changes to my new home?

Of course! Olsen Custom homes is famous for listening to you and making every attempt to accommodate changes. However, once both parties approve the final print and construction begins, we cannot guarantee that structural changes to the home design can be made. The best way to ensure that you have all of the elements that you want in your home, and to ensure the timely completion of your home, is to finalize all the details and features that you want included prior to the start of construction on your new home. Please note that there may be an additional charge for change orders.

When do I visit design centers to choose patterns, colors, and finishes?

A member of our staff will be happy to assist you in making your interior selections and or can work with your interior design professional. Once you have signed your contract with Olsen Custom Homes, we will schedule an appointment to begin your selections. In order to ensure the arrival of selections in a timely manner, it is recommended that this process is completed before the construction phase begins. For many new homeowners, this is the most exciting part of building. So have fun!

Are there specific times during the homebuilding process at which I must meet with the builder?

Yes. It is important that you meet with the builder during the pre-drywall phase. At this point, your building team will be working on the land grading, foundation, framing, electrical wiring, initial plumbing, and the home’s exterior. At this meeting, you will discuss and verify any changes. Our team of professionals will contact you to set up this very important date.

When will I close on my new home?

It is important to do an “all in one” loan, which means that you will close on the house before it begins. This will save you time and money by only closing once. The builder will work with the financial institution to receive draws at various phases of completion.

If you are pay for your new home on a cash basis, a similar draw schedule will apply and closing will take place after completion and final payment is received by the builder.

After the cabinets are installed, we will be able to provide you with a firm closing date.

Do you have any helpful advice about closing?

We’re always here to help you through this process. One thing to keep in mind is that we will not close on your home until everything is complete and a certificate of occupancy is issued.

• Schedule your movers to deliver after the closing. Sometimes there can be delays and until the actual transaction takes place, you are not able to move your items into the home.

• Arrive at your closing 15 minutes early to start paperwork. You should plan on the entire closing procedure to take about 1 hour.

• Remember to bring a cashier’s check with you to the closing if you have any unpaid balances. Check with your closing agent, mortgage lender, or builder prior to closing to make sure that your check is for the correct amount.

Once I move in, how do I know how “things” work?

In addition to an extensive final walk-through with one of our team professionals, Olsen Custom Homes provides you with a comprehensive Home Owner’s Manual that should answer all of your questions. This easy to follow reference book will give you detailed instructions about customer service, warranties, maintenance schedules, repairs and more.