Planworth does not sell the home when the plan runs short of money. A sale or a downsize is a toggle you add on the scenario. The property has to be in the Evaluation first. See How to add real estate, mortgages & a HELOC.
Sell the current home
Open the client's Financial Insights and confirm Current Scenario.
Select Add Toggle. Create New opens on New Toggle.
Open Sale/Purchase of Assets and select Sell Personal Real Estate. Search toggles... finds it too.
Enter a Name and the Start Date.
In Real Estate to Sell, select the property already in the Evaluation.
Enter Realtor Fees. Enter Other Closing Costs Percentage or Other Closing Costs when there are costs besides the realtor fee.
Projected FMV is shown for that date. Check Override Sale Price only when the sale price should differ from that value.
Select Save Toggle.
Buy the next home
Select Add Toggle again, stay on New Toggle, and select Purchase Personal Real Estate.
Enter Name of Real Estate, Real Estate Beneficial Owner, Purchase Year, Property Use, Type of Ownership, Location, and Purchase Price.
Check First Time Home Buyer when it applies.
Enter Growth Rate, Land Transfer Tax, and any closing costs.
Check Calculate and Use Future Value Amount(s) only when the purchase price should be projected forward.
Select Save Toggle.
Use both toggles in the same year when the sale and the purchase happen together. Review that year in Details for the property, the mortgage, and cash flow.
Whether to sell, the price, and the tax result stay with the advisor.