Buyer Interested in a Not completed Spec Home

[Lucero Sanchez]

Hi everyone, my husband and I have been building spec homes for the last 2 years. We list them as soon as they are 100% completed. This time we have a potential buyer for a spec home we just started framing. We know this home will sell very fast since it's in a very good location. If we decide to move forward with these buyers, how do we go about this transaction? We are building this home with our own capital so these buyers will not be funding anything. We already have the majority of finishes picked out and have our budgets set. The potential buyers have asked us if they decide to buy are they able to pick the cabinets, granite, tile, finishes, and paint color. My question is what happens if they back out before closing and what if their taste is too custom. I'm sure many of you have done deals like this before. Can you share your advice and experiance and would you sell this way again?

Thank you