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What are auto
adjustments:
Think
about auto adjustments as a template for sales grid adjustments.
Once you setup a scheme within NOVA, you can use it over and over
again in multiple reports. When you fill out the sales grid with the
information on the subject and the comparables, the $ amount to
adjust will populate and calculate automatically.
The Auto-Adjustment Calculation
feature is an easy and convenient way to determine the adjusted
sales price of your comparables. The feature is already turned on
for you but you will need to configure it to work.
How to create
Auto Adjustment:
With a form already open, go to
“Comparables”, then “Auto Adjustment Calculation.”
The screen that appears will allow you
to configure the Auto Adjustment Calculations. The “Numeric Fields”
section is for comparable fields with numeric descriptions only.
These adjustments are determined by you the appraiser. If you think
an extra room is worth $100, an extra bedroom is worth $50, and an
extra bath is worth $25, you would type those numbers in the
appropriate fields in this window.
Let’s set up the adjustments for some
extra rooms.
1.
Type “100” in the Rooms
field
2.
Type “50” in the
Bedrooms field
3.
Type “25” in the Baths
field
The non-numeric adjustments require
you assign an adjustment to a set of words you prefer to use, such
as “poor, average, and excellent.” The adjustments work in steps.
For instance, if you consider the subject to be average, and you
also consider a comp to be average, there will be no adjustment,
however if you type “Poor” in the Subject condition field, the
auto-adjustment will adjust the sales price of comparable up by
$500. This allows you to make a step by step adjustment for each
different level.
Let’s set up the “Condition”
adjustment.
1. Click
the “Configure” button to the right of the Condition line.
2. Type
“Poor” in the “Enter text to add to list” field, the click “Add”
Repeat step 2 with the words
“Average” and “Excellent”
Note: Add the words in order of worst
to best. Descriptions at the top of the list will be adjusted up,
those at the bottom of the list will adjusted down. You can also
adjust the order of the words by selecting the word and clicking on
the up and down arrows.
4. When
finished, click “OK”
5. Now
we need to assign a dollar value, type “500” in the Condition field
The adjustments work in steps. For
instance, if you consider the subject to be average, and you also
consider a comp to be average, there will be no adjustment, however
if you type “Poor” in the condition field, the auto-adjustment will
adjust the sales price of comparable up by $500.
As you fill in the comps grid, the
values will now automatically change according to the values you set
in the adjustment window.
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You can save your
scheme for use in other files click “Save Scheme”.
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After you choose
to save, you will be prompted for a name for the scheme. Enter a
name, and click okay.
Using an
existing scheme:
Once you have a
scheme created and saved, you can apply it to any URAR report that
you create.Once you have the report open, and are ready to use
the Auto-Adjusments feature, simply follow the steps below:
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In the top
menu, click Utilities | Auto adjustment calculation
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When the
Adjustment Calculations window opens, click the drop down arrow
for Adjustment Schemes (circled below), select an existing
scheme, and click “Ok”.
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You are now
ready to fill out your comparable sales grid and the adjustments
will occur automatically.
Shutting off the Auto-Adjustments
If you do not want to use the
Auto-Adjustments turning them off is simple.
1. Click
on “Configuration”. Then “Auto Adjustments”.
2. Uncheck
the “Use Auto Adjustments” check box, then click “Ok”
3. Restart
the Nova Forms program by saving the form you are in, then closing
the program.
When you reopen the program and your
file you will notice that the auto adjustments will not calculate
anymore. To turn Auto Adjustments back on follow the same steps
above but put the check mark back in the “Use Auto Adjustments”
check box.
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