3. Reservations & Contracts
Creating and reviewing a property reservation
A property reservation records the unit, buyer ownership, sales responsibility, payment plan, and charges that support the proposed sale.
Navigation: Launch page > Reservations & Contracts > Reservations > New. Use Browse to review an existing reservation.
Before you begin
Confirm unit availability, customer records, approved pricing, ownership percentages, and the payment plan. Prepare the sales representative and reservation date.
Procedure
- In Unit, Ownership & Sales, select the property and unit. Use zone, building, or floor filters where needed to locate the correct unit.
- Add the customers in the ownership split. Confirm that shares total 100 percent and that exactly one owner is primary.
- Enter the reservation date and sales representative. Check the customer and unit identifiers before continuing.
- In Price & Payment Plan, review the selling price and generated installment schedule against the agreed terms.
- In Charges, review the applicable additional charges and their treatment. Resolve discrepancies before reaching Review & Submit.
- Review the entire reservation, submit it through the available workflow, and retain its number. Open the record or approval details to verify the resulting status.
Result
The reservation provides the commercial source record for approval and the later sales contract.
Important
An ownership split that does not total 100 percent or has an invalid primary-owner selection must be corrected before submission. A submitted reservation may still require approval before a sales contract can be created.