Pre-sold Home

Definition

• A house that has been sold before it is built. The opposite of a house built on spec.

Synonyms
owned development, pre-sale, pre-sold construction

Alternate Spellings
Pre-sold

Related Terms and Acronyms

• Builder Upgrades — Definition,
  • Refined features or materials that a builder offers for an extra charge.
• Custom Builder — Definition,
  • A contractor that constructs or remodels houses based on plans submitted by the client.
• Custom Home — Definition,
  • A house built according to plans from an architect hired by the owner.
• Field Changes — Definition,
  • Modifications made to a building on-site.
• Manufactured Housing — Definition,
  • Factory-built home that can be placed temporarily or permanently upon land. Styles vary from modest trailers to dwellings that look like site-built houses.
• Production Home — Definition,
  • Homes that are mass produced as part of housing developments.
• Semi-custom Home — Definition,
  • A house in which the buyer cannot alter the layout, but can specify amenities such as type of cabinets and floor coverings.
• Speculation Builder — Definition,
  • A developer that builds houses without a commitment from a purchaser.
• Speculation Home — Definition,
  • A house built before a buyer has been found, on the assumption that one will be found.
• Starter Home — Definition,
  • A dwelling that is relatively small and inexpensive and bought as a first home.
• Upgrades — Definition,
  • Options that allow buyers of newly built houses to select higher-quality floor coverings, cabinets, windows and other amenities for more money.