The term "spec house" means it is a speculative venture for the builder, built with the intention of selling it as-is or with minimal changes to a home buyer. Should I Consider a Spec House? First it’s important to understand, in the building industry, there are different types of homebuilders.
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HUD Handbook 4145.1, Architectural Processing & Inspections for home mortgage insurance, including Appendix 8, Site Grading & Drainage Guideline.
SPEC HOMES – The term "spec" is short for speculative home for sale. Builders, even custom builders sometimes build homes for sale with no particular buyer in mind. Builders, even custom builders sometimes build homes for sale with no particular buyer in mind.
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Some custom builders also build on land they own which is known as a spec home – short for speculative. Build unique houses. A custom home is a site-specific home built from a unique set of plans for the wishes of a specific client.
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Definition of "Spec house" Anna Granger, real estate agent 1st choice properties, Inc. Are you speculating what is a spec house? Are you speculating what is a spec house? (sorry for the lousy pun) The textbook spec house definition is of "one built on a speculative basis, without an order on the books".
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HUD Handbook 4145.1, Architectural Processing & Inspections for Home Mortgage Insurance, including Appendix 8, Site Grading & Drainage Guideline.