PROPERTY APPRAISAL DISCREPANCY DETECTION AND ASSESSMENT
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United States of America Patent
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Issued Date -
Jun 4, 2015
app pub date -
Dec 3, 2013
filing date -
Dec 3, 2013
priority date (Note) -
Published
status (Latency Note)
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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.
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- 1 Citation Count
- G06Q Class
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- 10 Age