Lots are set to Sold when there is a home buyer on the lot, and a sale has been approved. This sale can either be a lot draw, or an individual lot purchase.
Meanwhile, a Spec lot is a lot that is sold to the builder but has no 3rd party buyer on it. Typically, the builder will be building a quick possession / model home on this lot.
Adding a Spec on an Available Lot
Spec Homes may be purchased from developers by selecting Purchase Lot from the Lot's action menu on the Map or by clicking the Purchase Lot button when viewing a Lot's details.
Once the purchase is approved by the developer, you will have access to the "Add Home Buyer" button. On the Add Home Buyer step, click the Spec / Showhome checkbox, and the sale will be processed without buyer information.
Adding a Spec on a Builder Inventory Lot
If a lot is in Builder Inventory (meaning you previously purchased it by Lot Draw) and you're ready to build on it, you'll need to inform the developer whether you have a third party buyer or you intend to build a spec home.
You'll need to do this action before you can submit a design for approval.
Click the Add Home Buyer button and select the Spec / Showhome toggle. This will add a Spec Home to the lot, and allow design submissions to continue.
Help! I don't see the Add Home Buyer button!
Please check the following to troubleshoot the problem:
- If you have multiple accounts, make sure you're logged in as the right builder.
- Double-check that you own this lot. Click on the lot to see the builder.
- Some systems prevent home buyers from being added before deposits are received. Make sure the land developer has confirmed receipt of deposits within LotWorks.
Removing a Spec Home
Removing a Spec Home also deletes other associated information (buyers, inspections, home details). This is an action that only developers can take as it protects the integrity of the system's data.
Please contact your land developer administrator to delete the spec home from a lot.
Resetting to Builder Inventory
Only those lots that were previously Builder Inventory lots can be reset back to Builder Inventory.
If your lot was purchased as an individual sale (through the Hold and Sale process), you will not be able to reset it back to Builder Inventory.
Please contact your land developer and they may be able to reset and re-sell the lot as a Bulk Draw.