How to Sell or Transfer an Account in BHPH

IN THIS ARTICLE

• Sell or Transfer an Account
• Enter Sale Details
• Finalizing the Sale
• Account Sold Report

Sell or Transfer an Account

To sell or transfer an account in the Buy Here Pay Here module, follow these steps:

1. Go to the Additional Actions menu at the top of the account page.
2. Select Sell/Transfer Account.
   
   
   
   
3. Choose the sale type: RFC or Third Party.
   
   
   
   
4. Confirm the warning that this action will permanently close the account, preventing further payments or modifications.
   
   
   
   

Enter Sale Details

After selecting the sale type, enter the required sale details:

1. Select the new lender from the list.
   
   
   
   
2. Note the Amount for Sale, which includes Down and Principal.
   
   
   
   
3. Optionally, check the box to include the interest balance in this amount.
4. Specify the Amount Received after applying any discounts.
5. Either enter a discount percentage or manually adjust the received amount to let the system calculate the corresponding value.
   
   

For example, if the total account value is $8,822.65 and a 40% discount is applied, the system calculates a received amount of approximately $5,293.59.

Finalizing the Sale

Once the sale details are entered:

1. Review all details including New Lender, Amount Received, and Sale Date.
2. Click Save to complete the sale.
3. The account status will update to Sold.
   
   
   
   
4. The transaction will be recorded in the Event Log.
   
   
   
   

Account Sold Report

The Account Sold Report provides a summary of all sold accounts:

1. Go to Reports in the side menu.
2. Search for Account Sold Report.
   
   
   
   
3. Run the report to view detailed information on transferred accounts.