Patent ID: 11875419
Assignee: WELLS FARGO BANK, N.A.
Field: IT methods for management (Electrical engineering)
Classification: CPC G | IPC G

Claim 8:
9. A method for collecting property status information from a property for a virtual appraisal, the method comprising:
receiving the property status information from a plurality of devices positioned about the property, the property status information including maintenance information associated with the property, at least one of the plurality of devices being a sensor device coupled to an aspect of the property that monitors an operating condition, maintenance, and age of the aspect of the property to estimate a useful life remaining for the aspect of the property;
storing the property status information in a database, including storing in the database maintenance records for the plurality of devices positioned about the property;
assessing the property status information to develop the virtual appraisal for the property;
identifying from the property status information at least one feature of the property to highlight during the virtual inspection;
obtaining, from the property status information, maintenance history for the at least one feature of the property;
determining, based on the maintenance history and the property status information, when maintenance is required for the property;
when the property status information falls outside an expected value of the at least one feature of the property, generating a first notification to be sent to a property owner, wherein the first notification includes a first offer of at least one service provider to service or replace the at least one feature of the property;
determining whether the maintenance required would affect an appraisal value;
when the maintenance required would affect the appraisal value, generating a second notification to be automatically sent to a relevant entity, wherein the second notification includes a second offer of a financing option for the property from a financial institution; and
upon completion of a maintenance activity, memorialize the maintenance activity on a blockchain by:
creating a new blockchain block;
capturing details of the maintenance activity within the new blockchain block; and
adding the new blockchain block to the blockchain.