Anderson Farm

What Anderson Farm's governing documents say

This is an affordability restriction on a single-family home at 3214 Edgemead Cir NW Unit E in Calabash, NC, part of the Anderson Farm subdivision. It is a deed restriction recorded by the North Carolina Housing Finance Agency (NCHFA) as a condition of a Community Partners Loan Pool (CPLP) loan. The restriction binds the current and future owners, not renters, and is not a full HOA or community rulebook.

• Affordability period: The restrictions last for 10 years from February 27, 2026 (the 'Period of Affordability'), and may extend beyond the loan term. The period automatically suspends upon foreclosure or deed-in-lieu, but can revive if the prior owner reacquires the property.
• Owner occupancy required: The owner must occupy the residence as their principal home within 60 days of the declaration date and for the entire affordability period. The home cannot be used as a rental, investment property, second home, or primarily for business.
• No renting or leasing: The owner cannot rent or lease any part of the residence. Violation may result in legal enforcement by NCHFA.
• Transfer and sale restrictions: Any transfer of title or possession (except as permitted by federal law) requires prior written approval from NCHFA. If the sale proceeds are insufficient to pay off the CPLP loan after senior liens, NCHFA may accept net proceeds in full satisfaction, but can demand full payment if the sale price is below fair market value.
• What this document doesn't cover: This document does not contain any HOA rules, pet restrictions, parking rules, architectural guidelines, or common area maintenance obligations. It is solely an affordability deed restriction for a single lot.

Plain-language summary generated from the governing documents on file for this community. It may be incomplete and is not legal advice — read the full documents below or consult the official recorded versions.