Sample report — illustrative only. Fictional North Carolina property used for demonstration.

Sample report — North Carolina

Wrightsville Sound Condominiums, Wilmington, NC

58-unit coastal mid-rise, built 2006

Overall riskElevated

The master policy is placed through NCIUA after admitted-market non-renewal, no flood coverage is in place on common elements, and no reserve study has been commissioned. The unit is current — but Chapter 47C provides only a basic fee statement and no rescission, so the contract contingency window is the only protection.

Get my own report — free See the Florida sample

Key findings

North Carolina-specific findings

Elevated

Master Policy Declarations + NCIUA endorsement

Master wind coverage in NCIUA — no flood policy on common elements

What we found: Admitted carrier declined to renew wind coverage at March 2025. Association placed wind through the NCIUA Beach Plan with a 5% named-storm deductible. No flood policy covers common elements — owners individually carry NFIP on their interiors.
Why it matters: Coastal North Carolina master-policy markets have tightened materially since 2023. Storm surge is flood — wind coverage doesn't include it. Common-element flood exposure passes through to owners via loss-assessment if uncovered.
What to ask: Why does the association not carry common-element flood coverage? What's the NCIUA cycle look like for renewal?

Concerned about this finding on your documents?

Elevated

Operating Budget, line 22 + Reserve Schedule

No reserve study; balance is 1.4 years of capital exposure

What we found: Reserve balance $148,000 against an estimated $640,000 of 10-year capital exposure (roof, exterior coating, decks). No reserve study commissioned in the past 10 years. Reserve contribution at $32,000/year.
Why it matters: Neither Chapter 47C nor 47F requires a reserve study or any funded percentage. Coastal building exposure makes underfunding particularly costly — post-storm assessments are common in associations that haven't reserved against realistic capital trajectories.
What to ask: When will the board commission a reserve study? What's the expected funding plan once recommendations are in?

Concerned about this finding on your documents?

Moderate

Delinquency Report + N.C.G.S. Chapter 45A

Chapter 45A power-of-sale capable; delinquency clean for this unit

What we found: Unit is current. Aggregate report shows 5 of 58 units (8.6%) more than 60 days past due; one in active power-of-sale process. Association uses non-judicial foreclosure under Chapter 45A after 90-day delinquency.
Why it matters: North Carolina has no super-lien, but power-of-sale foreclosure is efficient. Active foreclosure pipeline is a financial-stress signal at the association level even when this specific unit is clean.
What to ask: How is the operating budget absorbing the delinquent receivables? What's the trailing 12-month collection trend?

Concerned about this finding on your documents?

Low

Fidelity Bond Declarations + 2025 Annual Audit

Fidelity coverage and audit present per 2021 requirement

What we found: Association carries fidelity coverage at 125% of budget and reserves as required for associations above $25,000 in annual assessments. The 2025 audit is on file and is unqualified.
Why it matters: Fidelity and audit compliance are recent additions to North Carolina's statutory floor. Their presence is a baseline governance signal — their absence would be a meaningful finding.
What to ask: Any management letter items in the audit that the board hasn't yet addressed?

Concerned about this finding on your documents?

Risk Intelligence

Get Your Free Condo Risk Report

Upload condo or HOA documents for a free risk review. We read reserve studies, budgets, meeting minutes, insurance summaries, and assessment exposure — every finding linked to the exact page.

Get My Free Risk Report

Expert Matching

Need a real estate lawyer or mortgage specialist?

We can connect you with vetted real estate lawyers, mortgage brokers, and insurance brokers familiar with the specifics of condo and HOA transactions.

HOA lawyer
Realtor

Built for trust

Premium due-diligence software — not a chatbot.

Source citations on every finding

Every risk indicator links back to the exact document, page number, and quoted line. You can verify our work in seconds.

Free with transparent consent — or paid and private

Our free option is supported by limited, opt-in referrals you control. Or pay once for a fully private review with no data sharing.

Consistent, documented analysis

Consistent scoring — same documents always produce the same results. No guesswork, no chat-style answers.

Informational, never legal advice

We surface what your documents actually say so you can ask better questions of your attorney, lender, and inspector.

Documents encrypted on upload (AES-256)Documents deleted after 30 daysYou control which professionals can contact youOpt out of referrals anytime