Submission validation system and method

A system for auditing a subject property valuation submission with respect to a comparable property market analysis to determine the accuracy of said subject property valuation submission, the system comprising:

• a user interface and a database configured such that a user can record data to said database and acquire data from said database;
• a computer-readable medium comprising computer-executable instructions for a method comprising:
• acquiring a plurality of subject property attributes that are associated with a subject property from a source;
• recording said acquired plurality of subject property attributes in a database;
• recording said source of each of said acquired plurality of subject property attributes in a database;
• defining a geographic market boundary surrounding said subject property and within which said subject property is located,
• wherein said geographic market boundary is defined based on various data relating to properties located within said geographic market boundary,
• wherein said geographic market boundary is uniquely tied to said subject property valuation submission,
• wherein said geographic market boundary contains property data,
• wherein the number of properties located within said geographic market boundary is filtered based on user-defined attribute values to exclude any property that does not qualify based on said user-defined attribute values,
• wherein for each non-excluded property located within said geographic market boundary, a plurality of benchmark statistical measurements are calculated for a plurality of discrete periods of time;
• identifying a plurality of comparable properties, wherein each of said comparable properties is located within said geographic market boundary, wherein each of said comparable properties is associated with a market value, wherein each of said comparable property market value is associated with a date, wherein each of said comparable properties is associated with a property type that is similar to a property type associated with said subject property;
• for each of said comparable properties, acquiring a plurality of comparable property attributes that are associated with said comparable property from a source;
• for each of said comparable properties, recording said acquired plurality of comparable property attributes in a database;
• for each of said comparable properties, recording said source of each of said acquired plurality of comparable property attributes in a database;
• comparing each of said acquired plurality of comparable property attributes to a corresponding one of said acquired plurality of subject property attributes;
• assigning a comparable property monetary offset value to each of said plurality of comparable property attributes based on said comparison of comparable property attribute to corresponding subject property attribute;
• recording each of said comparable property monetary offset values in a database;
• for each of said comparable properties, calculating an adjusted sales price based on said market value said monetary offset values, and said date of said comparable property;
• modifying each of said adjusted sales price of each of said comparable properties by calculating percentage change in said benchmark statistical measurements depending on different periods of time;
• and
• calculating a fair market value of said subject property based on said modified adjusted sales prices of said comparable properties;
• and
• a processor that executes said computer-executable instructions.

A computer-implemented method of auditing a subject property valuation submission with respect to a comparable property market analysis to determine the accuracy of said subject property valuation submission, the method comprising:

• acquiring a plurality of subject property attributes that are associated with a subject property from a source;
• recording said acquired plurality of subject property attributes in a database;
• recording said source of each of said acquired plurality of subject property attributes in a database;
• defining a geographic market boundary surrounding said subject property and within which said subject property is located,
• wherein said geographic market boundary is defined based on various data relating to properties located within said geographic market boundary,
• wherein said geographic market boundary is uniquely tied to said subject property valuation submission,
• wherein said geographic market boundary contains property data,
• wherein the number of properties located within said geographic market boundary is filtered based on user-defined attribute values to exclude any property that does not qualify based on said user-defined attribute values,
• wherein for each non-excluded property located within said geographic market boundary, a plurality of benchmark statistical measurements are calculated for a plurality of discrete periods of time;
• identifying a plurality of comparable properties, wherein each of said comparable properties is located within said geographic market boundary, wherein each of said comparable properties is associated with a market value, wherein each of said comparable property market value is associated with a date, wherein each of said comparable properties is associated with a property type that is similar to a property type associated with said subject property;
• for each of said comparable properties, acquiring a plurality of comparable property attributes that are associated with said comparable property from a source;
• for each of said comparable properties, recording said acquired plurality of comparable property attributes in a database;
• for each of said comparable properties, recording said source of each of said acquired plurality of comparable property attributes in a database;
• comparing each of said acquired plurality of comparable property attributes to a corresponding one of said acquired plurality of subject property attributes;
• assigning a comparable property monetary offset value to each of said plurality of comparable property attributes based on said comparison of comparable property attribute to corresponding subject property attribute;
• recording each of said comparable property monetary offset values in a database;
• for each of said comparable properties, calculating an adjusted sales price based on said market value, said monetary offset values, and said date of said comparable property;
• modifying each of said adjusted sales price of each of said comparable properties by calculating percentage change in said benchmark statistical measurements depending on different periods of time;
• and
• calculating a fair market value of said subject property based on said modified adjusted sales prices of said comparable properties.

A computer-readable medium comprising computer-executable code for causing a processor to execute a method of auditing a subject property valuation submission with respect to a comparable property market analysis to determine the accuracy of said subject property valuation submission, the method comprising:

• acquiring a plurality of subject property attributes that are associated with a subject property from a source;
• recording said acquired plurality of subject property attributes in a database;
• recording said source of each of said acquired plurality of subject property attributes in a database;
• defining a geographic market boundary surrounding said subject property and within which said subject property is located,
• wherein said geographic market boundary is defined based on various data relating to properties located within said geographic market boundary,
• wherein said geographic market boundary is uniquely tied to said subject property valuation submission,
• wherein said geographic market boundary contains property data,
• wherein the number of properties located within said geographic market boundary is filtered based on user-defined attribute values to exclude any property that does not qualify based on said user-defined attribute values,
• wherein for each non-excluded property located within said geographic market boundary, a plurality of benchmark statistical measurements are calculated for a plurality of discrete periods of time;
• identifying a plurality of comparable properties, wherein each of said comparable properties is located within said geographic market boundary, wherein each of said comparable properties is associated with a market value, wherein each of said comparable property market value is associated with a date, wherein each of said comparable properties is associated with a property type that is identical to a property type associated with said subject property;
• for each of said comparable properties, acquiring a plurality of comparable property attributes that are associated with said comparable property from a source;
• for each of said comparable properties, recording said acquired plurality of comparable property attributes in a database;
• for each of said comparable properties, recording said source of each of said acquired plurality of comparable property attributes in a database;
• comparing each of said acquired plurality of comparable property attributes to a corresponding one of said acquired plurality of subject property attributes;
• assigning a comparable property monetary offset value to each of said plurality of comparable property attributes based on said comparison of comparable property attribute to corresponding subject property attribute;
• recording each of said comparable property monetary offset values in a database;
• for each of said comparable properties, calculating an adjusted sales price based on said market value, said monetary offset values, and said date of said comparable property;
• modifying each of said adjusted sales price of each of said comparable properties by calculating percentage change in said benchmark statistical measurements depending on different periods of time;
• and
• calculating a fair market value of said subject property based on said modified adjusted sales prices of said comparable properties.