Holdbacks (RealtiBuilderSales® Condo)
Holdback amounts can be set at the file level and/or the project level. The Project Release screen displays all holdback information and calculations in one location so it is easy to see how specified holdback amounts are impacting funds available for release.
Holdbacks in Files
In the file for any unit, there is a checkbox on the Deposit & Release screen to hold back all available deposits for that unit. The holdback will apply to funds that have not already been released from the unit, and any new deposits as they are added. Funds held back in a file will not be included in the calculation of the totals available for release at the file or project level.
Holdbacks in Projects
Set Holdback values for the entire project on the project's Deposit & Release screen. A different holdback amount can be specified for each fund source.
Values entered here are displayed and used for calculations in the Release Summary on the Project Release screen. They also appear for reference on the New Project Release screen for each new project release that is created or updated.
Project holdback values can be updated and saved in the project or by clicking the Holdbacks pencil icon on the Project Release screen.
Holdbacks in Project Releases
There are two locations for Holdbacks in Project Releases: Project Release Summary, and New Project Release screens.
On the Project Release Summary
The project Release Summary screen displays the following holdback information:
- Total Unit Releases section: The holdback values in this row represent the sum of available unit-specific funds being held back. Available funds in a unit are held back and included in this sum when the Holdback all available deposits in this unit box is checked on the Deposit & Release screen in any file. These holdbacks are factored into the calculation of the Total Unit Releases.
- Draw Release section: The holdback values displayed for each individual release are the project-wide holdbacks that existed at the time each release was created.
- Deposits Balance section: The holdback values in this row are the holdbacks set for the whole project. These values can be edited by clicking the pencil icon or navigating to the project’s Deposit & Release screen. The project holdback amounts are subtracted from the values in the Deposits Balance to calculate the Total Available funds. If holdbacks are greater than any deposits balance, a message advising of a holdback deficiency will appear. It is possible to release funds from sources with available funds.
In New Project Releases
When new releases are created at the project level, the New Project Release screen automatically displays the holdback values previously set for the entire project.
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