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Entering Pro Forma Data

Purpose

Use this procedure to value a property based on the pro forma method.

The pro forma method values properties based on income information stored in PACS. It is a comparison method that derives median values from the income information. Expense and capitalization rates are determined by compiling the median values for the properties that you specify in the Pro Forma Search dialog box.

Prerequisites

The Include in Pro Forma check box is selected in the General window.

Procedure

  1. In PACS Appraisal, open a property and click the Values tab.
  2. In the Valuation Method section, click Income Value.

    The Income Valuation window is displayed.

  3. Either select an income valuation and click Details to access an existing income valuation, or click Add to create a new income valuation.

    The Income Valuation window is displayed.

  4. Click the Pro Forma tab. Then click Get PF Data.

    The Pro Forma Search dialog box is displayed.

    Income Pro Forma search

  5. Use one or more of the following options as required:
    1. Select a check box and its corresponding [...] button.

      The Add/Remove dialog box is displayed.

    2. Specify the data that the system will use to search for comparable properties and click OK.
    3. Continue specifying data for other check boxes as required.
    4. Click Search. Then review the properties in the grid that the system retrieved with the data you entered. Remove properties as needed.
    5. If you need to save the criteria that you specified for future use, click Save Criteria and in the Pro Forma Criteria Description dialog box, enter a name for the set of criteria.
  6. Note how the data at bottom of the Pro Forma Search dialog box changes as you add and remove properties to the grid. Adjust the list of properties in the grid as required. Then click OK.
  7. In the ADJ section of the grid, complete the following fields as required.