Sample Report
Closing Risk Summary
67 Mocksville Rd, Mocksville, NC
State
North Carolina
Pages
24
Review time
≈78s
Risk flags
1 High · 2 Medium
Executive Summary
Executed residential purchase contract for 67 Mocksville Rd (North Carolina) reviewed in under 90 seconds. Key terms were extracted and state-specific risk and compliance flags were generated for attorney review. One high-priority item and two medium-priority items warrant confirmation before closing.
Key Extracted Terms
- Property Address
- 67 Mocksville Rd, Mocksville, NC
- Purchase Price
- $400,000
- Close Date
- December 5, 2024
- Financing
- FHA
- Earnest Money
- $4,000
- Due Diligence Period
- 10 days from Effective Date
- Year Built
- 1962 (pre-1978)
- Buyer
- [Redacted]
- Seller
- [Redacted]
Risk Findings
- High
Missing appraisal contingency language
Why it matters: FHA financing typically relies on appraisal-related protections. Absence of clear appraisal contingency language may leave the buyer exposed if valuation comes in low.
Source EX-1
- Medium
Verify lead-paint disclosure package
Why it matters: Property year built is pre-1978. Confirm the Lead-Based Paint disclosure and related acknowledgments are complete and attached.
Source EX-2
- Medium
Confirm due diligence period end date
Why it matters: A 10-day due diligence window is stated, but the calendar end date should be confirmed against the Effective Date to avoid missed deadlines.
Source EX-3
Missing / Unclear
- Appraisal contingency language not clearly identified in the uploaded package.
- Due diligence period end date should be confirmed against Effective Date.
Recommended Actions
- Have counsel confirm appraisal contingency language for this FHA transaction.
- Verify Lead-Based Paint disclosure package is complete for the pre-1978 property.
- Calendar the due diligence deadline from the Effective Date and confirm in writing.
Calculated Totals
- Purchase Price
- $400,000
- Financing
- FHA (amount not fully specified in sample)
- Earnest Money
- $4,000
- Due Diligence Fee
- Not stated in sample package
Source Excerpts
- EX-1: Purchase Price: Four Hundred Thousand and 00/100 Dollars ($400,000.00). Financing: FHA. [Appraisal contingency language not located in sample excerpts.]
- EX-2: Year Built: 1962. Lead-Based Paint Addendum referenced; verify full disclosure package and acknowledgments.
- EX-3: Buyer shall have a Due Diligence Period of ten (10) days from the Effective Date of this Contract.