LotTrust

Land bankers can now take every takedown from the builder's first draft through settlement and cash received inside Pipsy, and accept cash in lieu when a builder owes lots that do not exist yet.

• Builders draft takedown requests and preview each one before they submit, can require their own approver to sign off first, or can send requests straight from their own system. The review queue flags anything out of phase order, priced on an old pricing version, or touching a lot on hold, and a lot can be held with a reason the builder sees.
• Each facility keeps dated pricing versions by lot type, section, or phase, and the version in force on the closing date prices the takedown. Out-of-order premiums are charged when a builder takes lots ahead of phase and refunded once the earlier phase catches up. Lot contracts accrue interest on an actual/365 or actual/360 basis, and section escalations can move when the escalator starts accruing.
• Settlement is recorded step by step with the date, reference, and documents for each item, cash received is tracked against each takedown with short and late payments flagged, and a final takedown opens a closeout checklist that must be cleared before the facility closes. Cash in lieu is held as a balance and allocated to real lots later, so the builder is never billed twice for the same lot.
• Outside counsel and escrow or title officers get their own sign-in showing only the facilities assigned to them, with takedowns and documents but no dollar figures. LotTrust roles are granted per facility, and every change is kept with its before and after in an exportable audit package that can be put on legal hold.

Land bankers can now handle the parts of a facility that come up once it is live inside Pipsy: crediting deposits to takedowns, taking a builder through default and cure, and holding the schedule to contractual delivery dates.

• Deposits are credited to takedowns as they fund, refunds follow the refundable-until date and whether the option fee is refundable, and the facility shows deposits applied, refunded, at risk, and forfeited. Option fee invoices go out alongside carry invoices, and marking one paid records the deposit.
• A notice of default carries the reason, cure period, and cure-by date, goes out for signature, and ends cured, partly terminated with named lots released, or fully lapsed. Reminders go out ahead of the cure date.
• Delivery dates are set per schedule row or section and checked against the construction forecast, so a facility flags delivery at risk when the forecast runs past the contract date, and takedown relief can be granted as an amendment in one step.
• Carry can float on SOFR or CPI with a spread and a floor instead of prime, facility documents live in a document vault, and an existing book of facilities and takedown schedules can be imported from a spreadsheet.

Land bankers and their accounting teams can now see where every facility stands, what cash is coming, and what to post for the month from one set of numbers, instead of checking each report against their own model.

• The takedown position board shows, for every facility and lot type, what the schedule required, what was taken, credit for lots taken early, the next takedown actually owed, and months of cover. The same figures drive the facility page, the approval queue, reminders, and the weekly pack.
• A 13-week cash calendar and a monthly capital forecast show takedowns, deposits, invoices, and capital returned on the contract schedule or at the builder's actual sales pace, alongside month-over-month book movement, a risk ranking for every facility, and a builder scorecard covering pace, payment, and default history.
• Every LotTrust report sits in one library, and any report view can be saved with its columns, filters, and grouping and shared with colleagues.
• The month-end close ties takedowns, deposits, invoices, and invested capital to a journal that exports to NetSuite or a spreadsheet, with GL accounts mapped per facility or entity, review and approval by separate people, and locked periods. Bank statements import and match each wire to the takedown, invoice, or deposit it paid, and a data warehouse can pull only what changed since its last pull.

Land bankers can track each builder's credit and covenants and see who is on pace to miss a takedown, and builders holding a facility get their own statement and can request development draws from the builder portal.

• Each builder carries guarantors, financial statements by period, and covenants such as minimum tangible net worth and maximum leverage, with compliance worked out from the latest statement. Overdue compliance certificates land on the weekly pack's attention list.
• Pace risk compares each builder's sales pace with the takedowns still owed and flags who will miss one 60 or 90 days out.
• Builders see a statement covering deposits paid, applied, and at risk, go-hard and expiry dates, extensions left, carry invoices, invested capital, and the next takedown with the capital it needs, and can download it.
• A builder whose facility is linked to a development project can submit draws against that project from the builder portal, and funded draws post to the facility's invested capital.

Capital partners can pull their own capital account statement for any period and see the returns on each facility they hold, without waiting for a statement to be prepared and sent.

• Statements cover last quarter, quarter to date, year to date, since inception, or a custom period, with a roll-forward preview and a downloadable document that always match.
• Each facility shows contributions and distributions per investor, with the multiple and IRR both at book and projected, valuing the remaining lots at the average funded price.
• Joint venture statements now carry the correct opening balance when run since inception.

Land bankers can set the rule that decides which lots a builder takes next, and issue a dated exhibit carrying full legal descriptions for every takedown, instead of assembling that roster by hand each time.

• Allocation rules cover ready first, sequential, round robin across blocks, and assigned blocks, with section, premium, and hold back filters applied to the live roster.
• Each exhibit lists lot, block, section legal name, plat number, recording date, and recordation number, and prints with a signature block.
• An issued takedown exhibit becomes the closing instructions for that takedown, and a plat that records drafts a recordation exhibit across the whole roster.
• Lots now carry readiness certificates with supporting evidence, and on facilities that require it a takedown cannot be funded until the lot is certified ready.

Land bankers can amend a facility under version control, bill carry from a real invested capital ledger rather than a recalculated estimate, and send capital partners a weekly pack without assembling it by hand.

• Amendments are versioned across every amendable term and the lot roster, with draft, approval, and issue steps, and the facility shows which amendment is in force.
• A roster change issues an exhibit that supersedes the one before it, and an edit made outside an amendment is flagged rather than blocked.
• The invested capital ledger tracks opening basis, tranches, development draws, and takedown reductions month by month, and carry invoices are issued, emailed, and followed to paid.
• Facilities can be grouped into pools with cross termination and caps, and the weekly pack is written per partner with the sponsor's own economics removed.

Pro formas are edited directly in a grid and approved as a snapshot, and the model keeps reading itself against reality: what was underwritten, what is under contract with builders, and what has actually closed.

• A template library starts a new deal from a standard structure, and approving a pro forma snapshots it so later edits cannot rewrite the approved deal.
• Lot products carry a tax card covering school district, county, municipal district, improvement district, and HOA, so the burden a buyer will see is modeled with the deal.
• A builder commitment log follows a deal from letter of intent through executed contract, with cadence and incentives, and shows takedown risk per lot product.
• Gap out snapshots show pace against underwriting with the date the next phase has to deliver by, and a phase can be opened, released, or held straight from the row.

Capital partners can now sign in to Pipsy and see the facilities and development projects they have money in, with position, returns, and distribution detail on each one, rather than waiting on a statement from the sponsor.

• Partners get their own logins, scoped to only the facilities and projects they participate in, and sponsors administer those accounts themselves.
• Joint venture waterfalls calculate preferred return and promote tiers, so each partner's share of a distribution is visible on the project it came from.
• Capital statements show contributed capital, returned capital, and outstanding balance per partner, and equity terms can be edited as a deal is restructured.
• Portfolio and returns views summarize positions across every facility and project a partner holds.

Land bankers and their builder partners now run the whole facility lifecycle in Pipsy - lots assigned to a facility, takedown requests raised against it, and approvals recorded with who signed off and when.

• Sales managers request a takedown by picking lots from the facility map or table, and the request carries its obligation math with it.
• Approvers work a queue of pending requests with the facility position behind each one, and every approval or rejection is stamped to a person and a date.
• A facility can be created directly from a development project, so a project that converts to a LotTrust deal keeps its lot inventory and cost basis.
• Each contract keeps a full history, including earnest money handling and an approved-to-takedown flag that drives the takedown schedule and the accounting journal export.

Development teams can now raise, edit, and track draw requests against a project's budget, with a shared status timeline that the sponsor, the lender, and capital partners all read from the same place.

• Draw requests and takedown requests share one status model and timeline, so anyone can see where a request sits and what moved it there.
• Comments with mentions live on the request itself, which keeps the back and forth about a funding decision attached to the funding decision.
• Pro forma sensitivity tools re-run a project against changed absorption, price, and cost assumptions without rebuilding the model.

Takedown pricing now supports compounding escalation, section-level overrides, and a cap on how far a price can escalate, and fee schedules can be preset per section and locked so they do not drift.

• A compound monthly escalator models price growth that compounds, rather than accruing against the original basis.
• Escalation can be overridden for a single section, and an end cap stops escalation once a set point is reached.
• Fee table presets are scoped to a section or property, so a new lot picks up the right fee schedule as it is created.
• A preset can be locked, which keeps the fees agreed on a contract from being edited after the fact.

A LotTrust facility can now carry an escalator with its own start date and written terms, and a contract can be priced homesite by homesite instead of off a single base price, so takedown cash flow matches how the deal was actually negotiated.

• Per-lot pricing flows through takedown cash flow, the builder dashboard, and the land pipeline, using the contract's own prices rather than an assumed base.
• Escalator start dates recalculate when the terms behind them change, so a takedown schedule does not have to be rebuilt by hand.
• Financial terms and escalator notes are recorded on the facility and shown wherever the contract is read.
• Takedown instructions can apply earnest money to the final takedown, and a lot list can be pasted in rather than picked one at a time.

Sales managers now get a daily recap of everything that moved on the lot pool - reservations placed, cancelled, and committed, and homesites taken down - and once a builder commits to a homesite, that builder is the only one that can act on it.

• Cancellations show whether the lot returns to the pool, so it is clear each morning what is genuinely back on the board.
• A reminder goes out when a committal has been pending for 36 hours, so a homesite does not sit claimed but unconfirmed.
• Inventory lists, dashboards, and the lot status map scope to the committing builder once a lot is taken, so builders sharing a pool see only their own.
• A weekly community report can be released by hand rather than waiting for the scheduled send.

A community can now run an open lot pool, where several builders sell from the same set of homesites and a lot is assigned to a builder only when a buyer commits to it. Sales managers approve each commitment, and from that point the lot belongs to the builder that sold it.

• Commitment can be deferred until after the contract is written, so a builder is not forced to claim inventory before it has a buyer for it.
• Cancelling or closing a contract is limited to the builder that holds it, so builders working the same pool cannot act on each other's deals.
• Transfers between builders are turned off on pool communities, because assignment now happens through commitment instead.
• Inventory lists and the lot status map carry pool filters, so a builder can separate the lots it controls from the lots still open to everyone.

Setting up a facility no longer depends on knowing what each setting does from memory. Community, contract, and takedown instruction forms now carry plain-language help on every field, and a contract can hold a lump sum earnest deposit instead of a per-lot amount.

• Help sits beside each field as it is filled in, so the effect of a term is clear before it is saved and carried into takedown instructions.
• A lump sum earnest override replaces the standard per-lot calculation where a facility was negotiated that way, and released earnest is no longer counted twice against the balance.
• A builder's separate business address can be recorded on the contract and used on the documents generated from it.
• A contract can name the incentive program it runs under, so the terms appear wherever the contract is read.

Lot contracts, their takedown schedules, and the instructions behind them are now managed in one place, and each contract carries its earnest money position next to its pricing and fee terms. A contract's economics can be read without assembling them from separate screens.

• Earnest money is recorded on the contract and on each section, so deposits held are visible alongside the pricing and fees they offset.
• Sections carry the county they sit in, which flows through district and fee reporting.
• Takedown reports show the community behind each contract, so an operator running several communities can work from a single list.
• Sales managers get their own view of sections, and a takedown schedule no longer has to match a fixed lot count to be saved.

Builders now get an automatic reminder ahead of every scheduled takedown listing the lots coming due, how many remain on the contract, and a link to start the request. Communities can also keep a standing list of people notified before closings.

• The reminder goes out a set number of business days ahead, configurable per client, and only to builder contacts with takedown rights.
• Closing notifications go out two weeks before an estimated closing date to a recipient list set per community.
• New ARC submissions notify the reviewers responsible for them as soon as they land.
• Delivery notices were reformatted so the lots, addresses, and deadlines read clearly in an email.

Builders active in more than one community can now switch their dashboard, land pipeline, cash flow projection, and takedown schedule into a company-wide view spanning every community they build in, instead of checking each one separately.

• Inventory health and sellout pacing roll up across communities, so a builder can see where its lot position is thinnest overall.
• Sales pace can be measured against raw elapsed months rather than the standard divisor, for a like-for-like comparison between communities of different ages.
• The builder portal can be set to show only lots that have reached their takedown date, so what a builder sees matches the lots it actually controls.

Every lot contract and takedown instruction now has an overview screen that shows the economics of the deal in one place - lot counts, pricing, fee structures, and deposit position. Sales managers working in builder mode can submit a takedown request directly instead of sending it by email.

• The instruction overview rolls up the lots, pricing, and fees behind a single takedown so the amount due at closing can be read without rebuilding it in a spreadsheet.
• The contract overview does the same across an entire lot contract, so a facility's position is legible at a glance.
• A takedown requested by a sales manager lands in the same queue the development team already reviews, with the requesting builder attached.

Developers can now define the fees attached to a lot, stage by stage, and track deposits, invoices, and payments against each one. The money owed on a lot lives on the lot instead of in a side spreadsheet.

• Fees are set per stage, so a deposit taken at contract and a balance due at closing are tracked separately on the same lot.
• A builder fee register lists every fee a builder owes across a community, with what has been paid and what is still outstanding.
• Fee position carries through to the lot record, the lot status map, and the closings report, so it is visible wherever the lot is being worked.
• Fees due on a lot are surfaced in the architectural review workflow, so a builder submitting a home sees what is outstanding on that homesite.

Builders can now open their own lot contracts in Pipsy and read the takedown terms and fee structures that apply to them, instead of asking the developer for a copy every time a question comes up.

• Each builder sees the contracts it is a party to and nothing else, so one portal serves every builder in the community.
• Additional fee structures are supported on a contract, so the view reflects how the deal was actually written rather than a standard template.
• Developers are kept in a single list, so the counterparty on a contract is chosen consistently across land development and lot takedown deals.