At some point during your property adjuster career, you may come across a total loss that a client asks you to assess, document, and justify. In many cases, a Commercial or Residential Valuation from a documented source may prove sufficient. However, in some cases, you may be asked to prepare a “stick built” estimate for something that you just photographed as a smoldering pile of ashes.

The following process describes how you can take a completed Commercial or Residential Valuation in Xactimate and convert it to a line-by-line estimate to document RCV/ACV. Bear in mind that adding a greater amount of detail into the evaluation leads to more accurate estimates. A detailed interview with the insured should provide enough documentation about the building for you to accurately complete this.

Open & complete your Residential or Commercial Valuation in Xactimate, and save it as you normally would. As you see below, we have an RCV and ACV displayed for our valuation

Once you complete your valuation and save it, open it again; and this time click on the word VALUATION in the upper left corner. From that menu, select the SAVE AS option. .

Once you click SAVE AS, you will get the pop-up box shown below. Place the bullet point in ESTIMATE and RENAME your file or else you will overwrite the valuation. You can name it anything you wish. Just remember what you named it so you can find it next. Once renamed, hit OK.

Exit out of the valuation and click on the PROJECTS TAB in Xactimate. When you review your projects, you should find it in there, as shown below. Double click the name and access the project. This instance we chose the Final Draft with/without Removal Depreciation report and hit VIEW in the lower left corner.

Once the report opens, you will find a “stick built” estimate that mirrors the RCV & ACV amounts shown on your valuation as shown below.

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