Limits and rules placed on a group of homes by a builder, developer, neighborhood association or Homeowners Association; when living in a building, a buyer gives up certain freedoms to be part of a shared community. For example, most condo building associations have smoking restrictions, certain guidelines for parking and noise level rules; as well as aesthetic guidelines for paint color, height restrictions, and minimum and maximum square footage requirements. Sometimes, buyers can get access to the documents before making an offer; but in most cases, buyers get a complete list of a building's guidelines within 2 – 5 business days of signing the initial Purchase and Sale Agreement.

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