Loan to Contractor to Build Spec Home-HMDA Report?. Would a loan to a contractor to build a spec home be HMDA reportable? They have a 6 month interest period during construction then regular payments will begin.. What is the definition of a manufactured home?All.
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A spec home is a home built before a buyer is in place. This stands for "speculation" that someone will buy the home. All spec homes, are obviously new homes.
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on spec, made, built, or done with hopes of but no assurance of payment or a sale; without commitment by a client or buyer: ad illustrations done on spec; luxury homes built on spec and sold before completion.
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What is a Spec Home? Posted by Taylor Jones on Wednesday, February 29th, 2012 at 1:58pm While a spec home is not the right choice for those who want to choose every single detail of their new home, it is a good option for those who want to enjoy the benefits of owning a new home without waiting several months before moving in.
Definition of spec homes in the Definitions.net dictionary. Meaning of spec homes. What does spec homes mean? Information and translations of spec homes in the most comprehensive dictionary definitions resource on the web.
This was pursuant T.C.A. 62-6-102(D)(i). For example, a licensed spec builder in Brownsville would have a license classification listed as: "Spec Homebuilder – Haywood County." That contractor may build a house in which the cost is $350,000 or less.
Spec’d definition, specification(def 2). See more. on spec, made, built, or done with hopes of but no assurance of payment or a sale; without commitment by a client or buyer: ad illustrations done on spec; luxury homes built on spec and sold before completion.
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