Help Center : How to create a new Closed Deal: Part 19 - Sale Details

Created by Claudia Linquanti-Sue, last modified on Feb 14, 2023

Part 18 of this series will be coming soon!

This tutorial will go over entering the terms of a sale transaction on the Sale Details form in the Closed Deal workflow.

The Sale Details tab will only be visible in the Closed Deal workflow if this deal has a Comp Type of “Sale”. There is a separate form for Lease Details that only shows up for deals with the “Lease” Comp Type.

Instructions

The Sale Details form encompasses the terms and attributes for this sale, including dates, price, investment metrics, financing and escrow details, valuation, and so on. As mentioned in previous tutorials, some of these fields may look different when you log in (such as different colors, fonts, or entirely hidden from view). We’ll focus on the key features of this form in this tutorial.

At the top of the form is a summary of the Buyer, Seller and Property that have already been selected for this Deal.

Next to that is an option to mark this comp as Confidential. This does not hide the comp record from other users in your database – that’s always determined by the record’s Permissions settings. The Confidential setting allows you to indicate that this deal should not be shared externally.

By default, when you search the Comps database, confidential comps will not show up in the results, so you don’t accidentally share them with someone outside of your firm. You do have the option to include confidential comps in your search results if you want to.

If your Closed Deal started out as an Availability and you need to refer to listing-related fields that aren’t on this form, you can click on the Additional Availability Information link to see those listing details.

Required fields are highlighted in yellow, such as the Off Market date. Please note that the Off Market date initially copies the Deal Closed Date from the New Closed Deal modal, but you can change it to something else if needed without affecting the Deal Closed Date.

Add any transaction details you have. Under Investment Metrics, you can either already select an existing Income Analysis, or you can click the blue plus button to add a new one. There will be a more detailed tutorial available soon for the Income & Expense Analysis form.

Once an Income Analysis has been linked to this Deal, you can modify it by clicking on the notepad button or remove the link by clicking on the red [X] button. This will not delete the Income & Expense record itself, just its association with this Deal.

Clicking on the link next to Cap Rate, GRM or Equity Dividend Rate will take you directly to the relevant field on the Income and Expense Analysis form – either to the existing one that was selected or created previously, or to a new one.

You don’t need to fill out the rest of the form; required fields will already be populated.

Click Submit on this form to save your changes.

For Property Types that can have Rent Surveys (Healthcare, Hospitality, Manufactured Housing, Multi-Family or Self-Storage), you have the option of selecting an existing Rent Survey or creating a new one.

After creating a new Rent Survey, you may need to click on the blue refresh button to see it in the pulldown menu.

Similar to the Income Analysis, you can edit a selected Rent Survey via the notepad button or remove the link via the red [X] button. There will also be a more detailed tutorial available soon for the Rent Survey wizard.

Once you’ve added the rest of the information for this sale, click Continue to save your changes and move on to the next step.

Click here for the next tutorial.

© 2023 CoStar Group

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