EVALUATING APPRAISALS BY COMPARING THEIR COMPARABLE SALES WITH COMPARABLE SALES SELECTED BY A MODEL
First Claim
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1. A method for an automatic quality rating of appraisal selected comparables, comprising:
- creating a comparable list by;
selecting by a comparable selection model control comparables based on a subject, andadding the appraisal selected comparables to the control comparables;
ranking the comparable list using category comparisons; and
displaying the ranked list via a display device.
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Abstract
Automatically rating appraisal quality and evaluating comparables listed on the appraisal. A comparable selection model selects control comparables using transaction data and property characteristics relative to a subject from a database. An evaluation model compares the control comparables to the listed comparables to generate a quality rating for the appraisal based on category scores that result from an appraisal evaluation over a set of categories.
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Citations
15 Claims
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1. A method for an automatic quality rating of appraisal selected comparables, comprising:
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creating a comparable list by; selecting by a comparable selection model control comparables based on a subject, and adding the appraisal selected comparables to the control comparables; ranking the comparable list using category comparisons; and displaying the ranked list via a display device. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11)
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12. A computer program product stored on a non-transitory computer readable medium that when executed by a computer performs a method for automatically rating a quality of an appraisal, the method comprising:
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creating a comparable list by; selecting by a comparable selection model control comparables based on a subject, and adding the appraisal selected comparables to the control comparables; ranking, by the computer, the comparable list using category comparisons; and displaying the ranked list via a display device.
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13. A method for an automatic quality rating of appraisal selected comparables, comprising:
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means for creating a comparable list by; selecting by a comparable selection model control comparables based on a subject, and adding the appraisal selected comparables to the control comparables; means for ranking the comparable list using category comparisons; and
displaying the ranked list via a display device.
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14. An apparatus that automatically rates a quality of appraisal selected comparables, comprising:
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a circuit that creates a comparable list by selecting control comparables based on a subject via a comparable selection model, extracting the appraisal selected comparables from an appraisal, and adding the appraisal selected comparables to the control comparables, and that ranks the comparable list using category comparisons; and a display that displays the ranked list.
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15. A method for rendering an appraisal scorecard, comprising:
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receiving an appraisal; executing a data integrity check on the appraisal; evaluating the appraisal if the appraisal passes the data integrity check by running the appraisal through a comparable selection model and a value confidence model; and rating the appraisal based on the appraisal evaluation and pass/fail thresholds, wherein evaluating the appraisal includes generating for each comparable identified by the comparable selection model and the value confidence model scores that are relative to a category set, which includes comparable selection, comparable adjustment, comparable weighting, and final valuation.
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Specification