Creating a New Sale

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Open DataLog and create a new folder. 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.

Next, fill out the sale information. For this example the data will include: 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. Check the “Unimproved” box. The remainder of the sales information in this top section can be entered later.

The Land Mix Analysis section is next. 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.

After the Land Mix Analysis is the Income Analysis. Cash rent will be 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 at 75%. The income should calculate to $1,500.

Another part of the Income Analysis is for expenses. The given options include real estate tax, insurance, maintenance, and management costs. Insert $750 in real estate taxes and $500 in management costs. There are several additional blank cells for expenses other than those listed.

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

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

Once the four expenses values are entered, they can be transferred to the sale sheet.

To save these values as a default for another time, click on the Defaults menu and select Save Current Values as Defaults. The next time a sale sheet is created and expense values must be transferred, click on Allocate Expenses > Defaults > Load Default Values > Transfer.

Next comes the Improvement Analysis. For the working example, the sale is unimproved, however, completing the improvements section will demonstrate the process. Assume there is 1 house 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%. After inputting the depreciation, the effective age and remaining life will calculate.

Again, the example sale is unimproved, so delete the improvements information from the demonstration.

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

The four sections are useful for transferring sale information to a report. First, for the example, sale should be saved. Do this by either clicking on the Save button, clicking on the menu Sale > Save, or click Control + S. Closing the sale results in changes being automatically save. The newly saved sale is seen in the sales grid at the top right, named “Me to You – 2005-12."

Next, open the sale 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. Pull up the ClickFORMS program and see how to do this. To find the sheet just described, look in the UAAR Forms Library under UAAR Report > UAAR Forms > Approaches.

Double click on the form to insert it into the report – enter both sheets needed.

To transfer the information to the sheet correctly, use the DataLog number. The sale that was created has a DataLog number of 130, so in the report on the Comp. Sale to Sub. - SCA 1-5 page, enter the matching d number and then click 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, click on the sale and select “Copy Sales to Clipboard” and then go back to the report and click on Edit > Paste Special. Select the format for the sale to be added to the report in – one page or two page – then click OK. The sale should be added to the bottom of the report. In the Comments section, “This is the Sale Sheet Comments section” is now visible.

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