Florida Real Estate Practice Exam

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What characterizes spec homes?

Homes built with a specific buyer in mind
Homes built without having a specific buyer in mind
Homes built exclusively for renting
Homes pre-built and moved to location

The correct answer is: Homes built without having a specific buyer in mind

A spec home, or speculative home, is one that is built without having a specific buyer in mind. This means that the home is built based on the speculation that there will be a buyer once it is completed. Option A is incorrect because spec homes are not built with a specific buyer in mind. Option C is incorrect because spec homes are not exclusively for renting, as the goal is to sell the home to a buyer. Option D is incorrect because spec homes are typically built on-site, rather than pre-built and moved to location.