Creating a New Sale

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Start by opening your DataLog and creating a new folder. To do this, right click on the folder “My Sales” and select “Create New Folder”. Name this folder and then go to the sales grid section and click on the button called “New Sale” and select “New Blank Sale”.

A blank sales sheet should appear in a separate screen similar to the image below.

The next step is to fill out the sale information. Let’s start with Sale Index as “2005-12”, Grantor as “me”, Grantee as “you”, Deeded Acres as “550”, Current Sale Date as “12/1/05”, “$875,000” as the Sales Price, and then check the “Unimproved” box. We will fill out the rest of the sales information in this top section when we have more time.

The Land Mix Analysis section is next. You can insert a Land Mix table here using the Select Land List button. For more details on creating and inserting a land mix table, see CREATING A LAND TABLE.

Below the Land Mix Analysis is the Income Analysis. Let’s assume cash rent is used to analyze the income approach. Click on cash rent and then enter Pasture Rent with 250 acres with a Stabilized $/Unit at $8.00 and the share is 75%. The income should calculate to $1,500.

Also part of the Income Analysis is the expenses. The given options include real estate tax, insurance, maintenance, and management costs. Let’s put in $750 in real estate taxes and $500 in management costs. If you have other expenses besides those four listed, there are several other blank cells for other expenses.

The button "Allocate Expenses" is helpful when trying to calculate the values for Real Estate Taxes, Insurance, Maintenance, and Management. If you have a value already entered in one of those cells and then click on "Allocate Expenses", the calculation in the box will back into the value.

Real Estate Tax is calculated as $/Acre, Insurance is calculated as a percentage of your total Improvements, Maintenance is calculated as a percentage of the Stabilized Gross Income (SGI), and Managements is calculated as a percentage of the Stabilized Gross Income (SGI) as well.

Once you have entered the values you want for those four expenses, you can then transfer them to the sale sheet.

If you want to save these values as a default for the next time, click on the Defaults menu and select Save Current Values as Defaults. Now next time you create a sale sheet and want to transfer these expense values, click on Allocate Expenses > Defaults > Load Default Values > Transfer.

After the Income Analysis is the Improvement Analysis. This is where you enter the information on the improvements, if there are any. In this example, we have an unimproved sale, but let’s fill out the improvements anyway just to see how it is done. Let’s say there is 1 house on the place that has 1,300 square feet of space. Utility and Condition are Good. Total life is 50 years, RCN/Unit is $45, and Physical depreciation is 20%. Once you input the depreciation, the effective age and remaining life calculate.

This is how you input an improvement, but since this sale is unimproved, we should probably delete the information we just put in.

Finally, there is the Comments section, which is divided into four sections: Sale Sheet, Sale Comparison, Cost Comparison, and General.

The four sections come in handy when you transfer the sale information to a report. Let’s just put some information in each section to see how it transfers. Before we see how it transfers, let’s save this sale. You can do that by either clicking on the Save button, clicking on the menu Sale > Save, or you can hit Control + S. Also, if you just close out of the sale, a prompt will pop up asking you if you want to save your changes. Select Yes. Now in the sales grid at the top right, you will see the sale we just created named “Me to You – 2005-12”.

Now open the sale back up to the comments section. The Sale Sheet comments are part of the sales sheet and only transfer within the sale sheet. The Sale Comparison comments transfer to the report in the “Compare Sale to Subject – Sales Comparison Approach 1-5” sheet. Let’s pull up the ClickFORMS program and see how to do this. To find the sheet I just mentioned, look in the UAAR Forms Library under UAAR Report > UAAR Forms > Approaches.

Double click on the form to input it into the report – I will enter both sheets needed.

Now in order to transfer the information to the sheet correctly, you must use the DataLog number. The sale that we created has a DataLog number of 130, so in the report on the Comp. Sale to Sub. - SCA 1-5 page, enter d130 and then hit enter. The comment information is then transferred from the sales sheet to the form in ClickFORMS.

The Cost Comparison comments will be transferred to the corresponding form the same way using the DataLog number.

To transfer a sale into the report from the DataLog, simply right click on the sale and select “Copy Sales to Clipboard” and then go back to the report and click on Edit > Paste Special. Select which format you want the sale to be added to the report in – one page or two page – then click on OK. The sale should be added to the bottom of the report. In the Comments section, you can see that the Sale Sheet Comments transferred – “This is the Sale Sheet Comments section”.

The General comments from the sale stay in the DataLog; they do not transfer anywhere when the sale is transferred into a report.