What does Speculation Home mean?

A speculation home, also known as a spec home, is a house that is built by a developer or builder without a specific buyer in mind. These homes are typically built on speculation, meaning that the developer is betting that they will be able to sell the home once it is completed. Speculation homes are often built in new developments or subdivisions, and are typically built to a standard design and specifications.

Related Terms

Ranch Style Caveat Buy-Down Mortgage Lease-purchase Option Anticipatory Breach Triple Net (NNN) Brokerage Additional Rent Mortgage broker Forfeiture Waiver of Subrogation (In a Lease) Capital Gains Owner Financing Adverse Possession Accelerated Cost Recovery System Home Equity Conversion Mortgage As-Is Condition Incurable Defect