Covenants, Conditions and Restrictions.. when do they affect the sale of your condo or house? Well, in a seller's market it is not much of a problem. Buyers are buying anything they can get their hands on, driven by the frenzy of the market conditions.
In a buyer's market, buyers are cautious, there is a lot for sale, and condos with restrictions such as 'no pets allowed', 'no rental allowed for the first year or two', or 'no rental allowed' period, age restrictions, and tough board screening for buyers or tenants could make the sale of that condo not price driven.
Too many restrictions is almost as bad as no restrictions. Make sure that you fully check your CC&R's prior to close. You have 5 to 10 days to review this information and this information must be given by the seller or the seller's agent. The clock ticks from the time you received this documents. READ, READ, READ !!