Spec House Definition

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Referred to as Single, Dual or Triple. We detail each camera lens on a separate row for clarity. Specs include the number of.

In software development, a functional specification (also, functional spec or specs or functional specifications document (FSD)) is the set of documentation that describes the behavior of a computer program or larger software system.

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. A specification often refers to a set of documented requirements to be satisfied by a material, design, product, or service. A specification is often a type of technical standard..

A SPEC construction loan is an interim construction loan only, and not the permanent financing because the exit strategy is to sell the property. "SPEC" here is short for "speculating", because the builder or investor is speculating that they can sell the property at a profit.

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Almost by definition a spec house is one you build intending to sell. So, taxable as ordinary income plus you will pay self employment tax. Doing it inside an s-corp or llc taxed as an s-corp might let you avoid part of the SET.

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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. Some are known as custom home builders, others are tract home builders and some are "spec" home builders.

Definition of spec house in the Financial Dictionary – by Free online English dictionary and encyclopedia. What is spec house? Meaning of spec house as a finance term.

Specced 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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