Process for determining reasonableness of value conclusion
OwnerMark Leigh Stockton, Robert F. Hausmaninventors
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Abstract
Some embodiments of the invention include a method for determining the reasonableness of a valuation conclusion made for an object. In some embodiments, the method includes producing independent value estimates based on applying analytics to information within databases and producing additional independent value estimates derived from the applying the analytics to the information. The method includes comparing the additional information with the value conclusion. The method of some embodiments also includes generating a reasonableness report based on the comparisons.
Claims10
A non-transitory computer readable medium storing a program which when executed by at least one processing unit of a computing device automatically determines whether a valuation of a particular property is reasonable, said program comprising sets of instructions for:
- receiving a valuation of the particular property, said valuation comprising a value conclusion derived from an appraisal of the particular property;
- producing a set of independent value estimates based on comparing the particular property with a set of other properties;
- comparing the independent value estimates to the value conclusion;
- and
- generating a report that indicates the reasonableness of the valuation, wherein (i) when the value conclusion is within a threshold value of each of the independent value estimates, the valuation of the particular property is reasonable, and (ii) when the value conclusion is not within a threshold value of at least one of the independent value estimates, the valuation of the particular property is not reasonable.
A non-transitory computer readable medium storing a program which when executed by at least one processing unit of a computing device determines whether a valuation of a particular property is reasonable, said program comprising sets of instructions for:
- receiving an address of a particular property;
- receiving a value conclusion of the particular property;
- deriving a set of independent value estimates for a set of comparable properties;
- comparing the value conclusion of the particular property to the set of independent value estimates;
- determining whether the value conclusion of the particular property is reasonable based on the comparison;
- and
- delivering the valuation when the value conclusion is reasonable.
Dependencies are inferred from the claim text.