Contracts
An Oklahoma builder offers a buyer a 'spec home' (speculation home) already under construction. The purchase contract for a spec home differs from a new construction contract because:
ASpec home contracts require OREC special approval
BThe home is partially or fully constructed and the buyer takes it as built, rather than selecting all options; there may be fewer customization opportunities✓ Correct
CSpec homes always sell below cost
DSpec home contracts must use court-approved forms
Explanation
In a spec home sale, the builder has already made design and material choices. The buyer purchases the home as built (or with only limited remaining choices), unlike a build-to-suit contract where the buyer customizes from the start. Spec homes often close faster and at a lower price than custom homes.
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