You know the moment. You have a unit mix and a rough price per foot, and someone asks what the deal really makes. Not gross sellout, but net proceeds after sales friction, carry, and the condo premium that creeps into the budget. This is where most quick models fall apart. They stop at revenue or gloss over the path from contract to cash. This task fills in that path and gives you a clear read on profit and IRR. Underwriting ~20 min to run Build For-Sale Condo Development Model Vic prompt Use Vic to build a for-sale condo development model for a ground-up or conversion project with unit mix, pricing, costs, and sellout assumptions. Purpose A full condo underwriting that normally takes four hours is delivered in twenty minutes, letting teams test pricing, absorption, and return thresholds before committing capital. Inputs Property Type Optional Development Program Optional Condo Price Assumptions Optional Cost Budget Optional Sellout Assumptions Optional Market Optional Return Hurdle Optional Outputs An Excel workbook containing the sellout schedule, all sales frictions, net proceeds, profit margins on cost and sellout, break-even pricing, and unlevered and levered IRR with equity multiple. Time saved Turns roughly four hours of manual work into about twenty minutes. How it works You give Vic the basics you already have. A development program with unit mix and average sizes, condo pricing assumptions, a cost budget, and an expected sales pace. Include the market and your return hurdle if you have them. Run it as: Use Vic to build a for-sale condo development model for a ground-up or conversion project with unit mix, pricing, costs, and sellout assumptions. Vic builds an Excel workbook that starts with gross sellout from your mix and price per square foot. It then lays out an absorption schedule and walks each closing through to net proceeds. Along the way it deducts the items that often get simplified or missed: sales costs, transfer taxes, legal fees, sponsor reserves, and common charge carry. The model also includes the construction cost premium tied to condo delivery. That shows up in both conversions and ground-up deals, and it moves your margin more than most teams admit early on. On the back end, the file calculates development profit on cost and on sellout. It shows break even pricing so you can see how far you are from zero at your current assumptions. Cash flows run unlevered and levered over the sellout period, with IRR and equity multiple pulled straight from the schedule. The output is not a black box. You get a standard Excel workbook with a sellout schedule, sources and uses logic built into the cash flow, and clear lines for each category of sales friction and carry. It is meant to be adjusted, not just viewed, so you can test a different pace, tweak pricing by unit type, or push costs and see the effect right away. In practice, this changes both speed and discipline. A full condo underwriting that usually takes half a day comes back in about twenty minutes. More important, it pushes the conversation past headline pricing. You can sit with your team and answer the real questions. What price clears the hurdle. How sensitive is the deal to absorption. Where do sales costs and transfer taxes hit hardest. There is also a benefit for acquisitions teams. With this structure, gaps show up fast. If the assumed absorption does not match new supply, the schedule makes it obvious. If carry looks light, the net proceeds bridge exposes it. You spend less time arguing about format and more time on the assumptions that drive value. Condo deals are won or lost between contract price and cash in the bank. This task models that stretch end to end, in a file you can audit and change. It beats a back of the envelope and holds up in an IC memo.