Camelot Signature Homes

FIND YOUR HOME

Frequently Asked Questions

  • Customization – Design your dream home it fit your lifestyle and current and/or future needs
  • No renovation required
  • Everything is new and under warranty
  • All the latest features and equipment
  • Energy efficient
  • Meets all new building codes
  • Less maintenance than a resell

No, but all square footage, elevations and exterior materials must conform with the subdivisions and zoning requirements

  • The Builder will meet with the prospective client to determine the Home Buyer’s needs. Items to be discussed are:
    • Heated Square footage
    • Number of bedrooms and bathrooms
    • Number of garage bays
    • Room flow
    • Storage
    • Budget
    • Time frame to build
  • The Builder will review the prospective client’s lot or assist in locating a suitable lot. Items to review are:
    • Size of the lot
    • Placement of the home
    • View
    • Topography
    • Setbacks
    • Location of trees
    • Soils suitability
    • Availability of utilities (water/sewer)
    • Septic area (if sewer is not available)
  • The Builder will review the Home Buyer’s choice of floor plans and elevations and discuss options.
  • The Builder will price out the final Home Buyer’s plans.
  • The Purchase & Construction Agreement or Construction Management Agreement will be drafted for signatures. The documents will include:
    • A copy of the building plans
    • A copy of the House Location Plan (HLP)
    • Time line
    • Specifications
    • Allowances
  • The Home Buyer receives a copy of the Greater Atlanta Home Builder’s “Homeowner Handbook”
  • The Home Buyer puts up a Construction Deposit.
  • Water/Sewer Permit and Building Permit are paid for
  • Builder’s Risk, General Liability and Workman’s Compensation Insurance is purchased
  • The Home Buyer will apply for the various utilities:
    • Water/Sewer
    • Electric
    • Gas
  • Construction Commences
  • The Home Buyer or the Construction Lender will fund the construction draws
  • The Builder and Home Buyer will walk the home during various phases of the construction
    • Lot and house staking
    • Framing
    • Plumbing, Mechanical, Electric and Security Alarm placement
    • Final inspection
  • Move-in (after the Certificate of Occupancy is received)

Yes, some items may not be 100% determined upon the contract signing. These items will be set up as allowances. If the Home Buyer spends more than the allowance, then they will pay the overages. If the allowance is not spent in full, the amount can be credited back to the Home Buyer or this amount can be added to another allowance. The allowances can include:

    • Appliances
    • Shelving
    • Hardwood
    • Carpet
    • Ceramic Tile
    • Light Fixtures
    • Plumbing Fixtures
    • Fireplace Mantles and Surrounds
    • Trim (Base, Crown, Casing)
    • Countertops
    • Cabinets
    • Front door
    • Built-ins

Yes, but this time period will be limited to two weeks after the contract signing.

Yes, but there will be a fee of $250.00, plus the cost of the change order. This change order can include an additional amount for interest carry if the work increases the timeline.

The Builder’s Surveyor/Civil Engineer will determine the house placement on the home’s footprint and setbacks. The neighborhood Homeowner’s Association (HOA) will need to sign off on the final house placement.

Yes, based on the Builder and the subdivision’s architectural control final approval. 

Yes, the Builder will have standard features and a list of upgrades. The Builder will give the Home Buyer a list of Vendors to contact.

Yes, check with the Builder to get contact information and how many hours of design time are built into the price of the home. 

This depends on the size of the home, the time of year the construction starts and availability of materials. The build time can take from 5 to 10 months.

The cost per square foot can be looked at a number of ways. This includes:

  • Total sales price divided by the total heated square footage
  • Total construction hard costs (no land or soft costs) divided by the total heated square footage

Costs per square footage for identical plans can differ due to:

  • Lot costs
  • Site conditions
  • Exterior materials
  • Interior features
  • Allowances

Land

Insurance

  • Workman’s Compensation
  • General liability
  • Builder’s Risk

Permits & Fees

  • Building Permit
  • Water/Sewer Permit
  • HOA Fees

Finance Costs

  • Loan Fees
  • Loan Interest
  • Closing Costs

Decorator

Sitework

  • Clearing & grading
  • Erosion Control
  • Septic (if applicable)
  • Driveways & Sidewalks
  • Landscaping
  • Fencing

Building Hard Costs

  • From grading to landscaping

The Home Buyer can either pay “all cash” or obtain a construction loan from a lending institution. Typically, the lending institution will offer a Construction & Permanent (C & P) loan that funds the purchase of the land, hard and soft costs and then upon obtaining the Certificate of Occupancy (CO) the lender will convert the Construction Loan into a Permanent Loan (15 – 30 year term).

The construction Loan terms to review are:

  • The loan amount – typically based on a percentage of the construction loan or appraised value
  • Loan term – typically the construction loan is for up to 12 months
  • Loan rate – typically the construction loan is either locked into a rate or floating based on prime rate plus an index rate
  • Construction loan draw schedule – the construction lender will have a draw schedule based on a percentage of completion for various line items
  • Personal guarantee – All construction lenders will require a personal guarantee from the borrower(s)
  • Helpful maintenance hints
  • Warranty information
  • Builder warranty guidelines
  • Homeowner maintenance responsibilities
  • A 12 month (from move-in) Limited Warranty.
  • Various equipment warranties from the manufacturers
    • Appliances
    • Mechanical equipment
    • Roofing
  • At closing the Builder will provide the Home Buyer with a list of the various subcontractors/vendors and their contact information.
  • The Home Buyer will contact the various sub/vendor to schedule an appointment.
  • The Home Buyer will email the Builder to notify of the warranty issue.

Yes, if the property is located in a subdivision, then at closing the Home Buyer will be required to fund an initial reserve fee and will pay a monthly or quarterly HOA fee.

  • Equipment Manuals
  • Energy Certificate
  • Copy of the Certificate of Occupancy
  • Keys
  • Garage door openers
  • List of Subcontractors and Vendors
  • Greater Atlanta Home Buyers Guidebook
  • HOA Documents
  • The Howard Zuckerman , the principal of Camelot/Signature Homes has over 40-years experience in the home building business
  • He has built over 1,000 single -family homes, condominiums, townhomes and condo conversions and apartments.
  • He written seven professional real estate books, including: The Complete Home Builder Guidebook. www.learnhomebuilding.com