A Most Important Document that Many Buyers Never See Until After Closing...and It's Too Late!

In NC we have a form that requires disclosure of a Property Owners' Association.  Once the form is completed and given to the potential buyer, they are aware of the specific yearly fees and what they cover, any assessments, and the name, address, and phone number of the association president, but some agents and many buyers never think to ask for a copy of the covenants/restrictions.  Many buyers never see them until after closing when they review the thick packet (if they ever do) that the attorney gave to them after closing.  How can that be a problem?  One exclusive community in Myrtle Beach does not allow motorcycles nor certain types of trucks in the neighborhood.  An  area has been designated for them.  Several neighborhoods do not allow business truck with lettering on the outside in the driveway.  They have to fit into the garage. Many do not allow boats or motorhomes to park overnight; they must be parked in a designated storage area...or what about the neighborhood that only allows a community yard sale twice per year...no individual ones.  Some communities restrict dog breeds.  Many require landscaping, painting, or fencing changes to be submitted to an architectural committee.  Mailboxes cannot be different; one kind is approved for the whole community.  Some of the rules get real persnickety like fresh pine straw has to be changed & fluffed regularly, house exteriors have to be free of mold, and trash cans cannot be viewed from the road.  One community where I purchased a home and lot required lot owners to start construction on a new home within a 24 month period.  No one really enforced it until a few years ago.  There was a split right down the middle when the association decided to enforce the rule.  There were lot owners who swore they were never informed.  Of course, they were...they just didn't read it.  As agents, we need to be careful that our clients are informed and make every effort to provide them with a copy; especially, if they have informed you of their intended use of the property.  Imagine how upset they will be if they find out they have purchased a property that will not allow them to use it for that purpose.