PROPERTY APPRAISAL DISCREPANCY DETECTION AND ASSESSMENT
First Claim
1. A method comprising, causing a processor to:
- access appraisal-data-field entries from a plurality of property appraisals, each of the appraisal-data-field entries indicating a value assigned to a property characteristic of a property included in the respective property appraisal;
perform an error detection operation for each of the accessed appraisal-data-field entries as a target entry, the error detection operation comprising detecting a discrepancy between the target entry and an appraisal-data-field entry corresponding to the target entry; and
flag as erroneous appraisal-data-field entries determined by the error detection operation to be erroneous,wherein appraisal-data-field entries that correspond to one another indicate respective values assigned to a same property characteristic of a same property.
1 Assignment
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Accused Products
Abstract
An appraisal error detection method includes accessing a database of appraisal-data-field entries of property appraisals. Because sales transactions are cited repetitively as comparables on multiple appraisals, it is possible to inspect appraisal-data-field entries for consistency. An error detection operation is performed for each of the corresponding appraisal-data-field entries by detecting any discrepancies, both between appraisers, and between different appraisals by the same appraisers, where corresponding appraisal-data-field entries are for a same property characteristic of a same property. Appraisal-data-field entries determined by the error detection operation to be erroneous are flagged, and a discrepancy score may be assigned to flagged erroneous entries that indicates an amount of risk posed by the entry. Appraisals in the database may be assigned a score based upon the sum of their entries'"'"' discrepancy scores.
16 Citations
20 Claims
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1. A method comprising, causing a processor to:
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access appraisal-data-field entries from a plurality of property appraisals, each of the appraisal-data-field entries indicating a value assigned to a property characteristic of a property included in the respective property appraisal; perform an error detection operation for each of the accessed appraisal-data-field entries as a target entry, the error detection operation comprising detecting a discrepancy between the target entry and an appraisal-data-field entry corresponding to the target entry; and flag as erroneous appraisal-data-field entries determined by the error detection operation to be erroneous, wherein appraisal-data-field entries that correspond to one another indicate respective values assigned to a same property characteristic of a same property. - View Dependent Claims (2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 19)
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18. A method comprising causing a processor to:
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access appraisal-data-field entries from a plurality of property appraisals, each of the appraisal-data-field entries indicating a value assigned to a property characteristic in the respective property appraisal; associate with one another those appraisal-data-field entries that correspond to a same property as one another, correspond to a same property characteristic as one another, and have transaction dates separated by less than a predetermined time from of one another; perform an error detection operation for each of the accessed appraisal-data-field entries as a target entry, the error detection operation comprising detecting a discrepancy between the target entry and an appraisal-data-field entry associated therewith; flag as erroneous appraisal-data-field entries determined by the error detection operation to be erroneous, said flag indicating a type and magnitude of the detected discrepancy; and identify at least one property appraisal of the plurality of property appraisals as suspect based upon flagged appraisal-data-field entries.
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20. A system comprising:
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at least one processor; a database including a plurality of appraisal-data-field entries from a plurality of property appraisals, each of the appraisal-data-field entries indicating a value assigned to a property characteristic in the respective property appraisal; and a non-transitory computer readable medium having program code stored thereon, the program code being executable by the at least one processor to perform the following operations; access the appraisal-data-field entries from the database, perform an error detection operation for each of the accessed appraisal-data-field entries as a target entry, the error detection operation comprising detecting a discrepancy between the target entry and an appraisal-data-field entry corresponding to the target entry, flag as erroneous appraisal-data-field entries determined by the error detection operation to be erroneous, said flag indicating a type and magnitude of the discrepancy, and identify at least one property appraisal of the plurality of property appraisals as suspect based upon flagged appraisal-data-field entries, wherein appraisal-data-field entries that correspond to one another indicate respective values assigned to a same property characteristic of a same property.
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Specification