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Cost and Financing

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This section of Clarus Investor® allows you to set up the property pricing and financing information for the purchase of the property.
  • First you'll need to add the Acquisition Cost. This is actually the price the property is currently being sold on the market. If the property has been previously sold, simply check Sold.
  • Then, you can add the Fair Market Value. This amount may differ if the selling price is different than the acquisition cost; say if the owner sells it more than it's actually worth.
  • Otherwise, you can check Same As Acquisition Cost. The Annual Appreciation is the percentage which causes the property to increase in value every year. By default, we added 2%, however this may vary from one area to another. Simply change it if need be.
  • If you check Detailed Acquisition Cost, you will be prompted to detail the land and building pricing.
  • If you've already predetermined a fixed percentage for the cost of the building under your General Parameters, the software will calculate it automatically. You can, of course, modify the amounts if they're incorrect.
Example:
  1. Municipal Evaluation:
    2.  Total: 200 000$
    Price that will be paid: 300 000$
  2. Estimated Land Price
    3. Land Eval. / Total Eval. x Price that will be paid
    25 000$ / 200 000$ x 300 000$ = 37 500$
  3. Estimated Building Price
    4. Land eval. / Total eval. x Price that will be paid
    175 000$ / 200 000$ x 300 000$ = 262 500$
  4. Land and Building Total
    5.  Check the box next to Detailed Acquisition Fees
  1. Financing Scenario
    2.
    • Down Payment
      •  You can set either a percentage or fixed amount for the down payment. This will determine the amount to be financed. You can include the Acquistion Fees in the down payment.
    • Loan Insurance Premium
      •  Applicable if you need insurance for the loan. This service is provided by the CMHC in Canada only. You either enter a fixed amount or have the software automatically calculate it.
    • Mortgage List
      •  By default, the software will calculate the initial mortgage for the purchase of the property. The mortgage will be determined by the amount (or percentage) set as the down payment. So if you opt to put down 25% for the down payment, the mortgage will be calculated for 75% of the cost of the property. The default configuration of the mortgage will be 300 months for Amortization, 3% rate, on a 60 months term which will give you a payment and total amount financed.

  2. Add
    3.  If you need to work with multiple mortgages, you can add more mortgage to make sure that before generating the report the Balance to Finance is at 0$.
  3. Modify
    4.  To edit your mortgage(s), you can either click directly on one of the mortgage information or check the box on the left and click on Modify.
  4. Delete
    5.  To remove a mortgage, simply check mark the box next to the mortgage and click Delete.
Mots clés::  cost ,  financing ,  pricing ,  purchase ,  price ,  acquisition ,  fee