Monitoring construction and calling funds

Purpose

Construction stages describe the progress of the building work and the portion of the sale price requested upon the completion of each one. They serve as the basis for the schedule of each reservation and the progress displayed to purchasers.

When a stage is completed, REOS can send a fund call with its PDF in a single operation to every purchaser whose reservation is confirmed.

Where to find it

1. Development
2. Projects

Project page, section “Construction and schedule”.

Steps

1. Open the “Construction and schedule” section to create standard stages.
2. Adjust the name of each “Stage”, its “Share of price (%)”, and its “Planned” date, or add new ones with “Add a stage”, then click on “Save”.
3. Verify that the total called reaches 100 per cent, as a warning will be displayed otherwise.
4. Update the “Progress (%)” of each stage as the construction work proceeds.
5. Upon completion, click on “Complete and call funds” to send the calls to purchasers, or on “Complete without call” if no call is to be issued.

Good to know

• The result of the dispatch indicates the number of calls sent, ignored, and failed, so that you can process specific cases.
• A stage for which funds have already been called can no longer be deleted.
• The overall progress of the construction site is weighted by the share of the price of each stage.

Related guides

• DevelopmentManaging development projectsCreate a new property development project, link its buildings, and track sold units, turnover, and construction progress in an overview.
• DevelopmentBuild the payment scheduleCalculate reservation instalments from the construction stages, call them with their PDF, and record payments.
• DevelopmentInforming buyersPublish site news and project documents, and provide each buyer with a link to their personal page.
• DevelopmentManaging reservationsCreate the reservation of a unit, send the contract for signature, confirm it, and then record the deed or the cancellation.