Joy Watson Real Estate · Local, Non-Corporate

Greensboro Condo Document Library

Compare what the recorded declarations, bylaws, and amendments say about dues, special assessments, leasing, pets, insurance, and more. Every entry links to the page in the actual recorded document, so you can read the wording for yourself.
7communities
32recorded documents
713pages, linked by topic
Compare Communities Before You Rely on Your Lender

Page 1

Read It for Yourself

I love condo communities. I have lived in three, two as an owner and one as a tenant. I served ten years on the Wafco Mills Condominiums board in Greensboro, the last three as president, and four years on the Summit Park association board in Flagstaff, Arizona in the early 2000s. I have also spent years going through single-family HOA documents with my buyers, helping them see the limits and the amenities that come with a community.

Most of the questions owners brought to the board were answered somewhere in the governing documents. The trouble is that these documents are written in legal language by lawyers and developers, and the people who buy and live under them rarely get a plain path to what they say or how they apply to their own home. Condo communities are high-density housing. When more owners understand how their community is meant to work, it is easier for everyone to respect their neighbors and the building they share.

This library is meant to be that path. It is not my interpretation, and I have not read every page of every document. I pulled the recorded documents and used AI tools to find where each topic shows up. Each entry is a short paraphrase with a link to that page, so you can read the actual wording and decide what it means for how you plan to use the home. Where the documents say nothing about a topic, the entry says so.

If you have questions about how these documents apply to your own situation, such as renting the unit, a renovation, an assistance animal, a dispute, or a purchase you are about to make, a North Carolina real estate attorney is the right person to ask. Justice Law Group is one of the firms on my Preferred Vendors page, and you are always free to choose any attorney you like.

Joy Watson

How this library was made: I downloaded each recorded document from the Guilford County Register of Deeds in October 2026. AI tools read the scanned pages, located each topic, and wrote the short paraphrases you see here. Scans of older documents can be misread, so treat each entry as a pointer to the page, not the final word. The documents themselves always control. If you spot an error or know of a newer amendment, please email me.

Page 2

Table of Contents

Every topic and guide in this library. Pick one to open it, or search every community at once.

Page 3

Compare Side by Side

Open a topic to see every community in one table. Each "Read" tag opens the recorded document to that page. "Not in recorded docs" means the recorded documents are silent, and the board may still have a rule, so ask for the current Rules and Regulations.

How do you plan to use the home?

Pick one and the topics that matter most for that plan open, with the key rows highlighted.

Which communities do you want to compare?

Tap to add or remove. On a phone, two or three at a time is easiest to read.

Questions about how this applies to you?

These tables show where the documents address each topic. How a provision applies to your purchase, your lease, your pet, or your renovation is a legal question. A North Carolina real estate attorney can answer it. Justice Law Group is listed on my Preferred Vendors page.

Page 4

The Big Differences at a Glance

Built from the same entries as the tables above, for the communities you selected. Open the matching topic to read the pages behind each bar.

Page 5

Before You Rely on Your Lender

Many buyers assume the lender and underwriter have checked out the association's finances and documents for them. Underwriting does review the community, but it asks a different question than you need to ask.

What the lender is checking

  • Whether the building is acceptable collateral for this loan program
  • Whether the budget meets the program's reserve rules
  • Delinquent dues, insurance, lawsuits, and needed critical repairs
  • How much of the building one owner holds, and commercial space

What only you can check

  • Whether you can rent it, and for how long, the way you plan to
  • Whether your dog, your parking, and your renovation are allowed
  • What your dues pay for, and what you pay on your own
  • How a special assessment would be decided and what your share would be
  • Whether the community is saving enough for its next big project

The condo questionnaire

When you finance a condo, your lender sends the association, or its management company, a questionnaire about the project. It is often Fannie Mae's Form 1076 or the lender's own version. It asks about the budget and reserves, owners behind on dues, insurance, lawsuits, critical repairs, special assessments, commercial space, and how many units any one owner holds.

  • Impact on your loan: the answers can decide whether the loan is approved, which loan programs are available, and whether the lender asks for more documents.
  • Impact on the HOA: associations usually charge a fee to complete it, and an answer that does not meet program rules can make the building harder to finance for every buyer.
  • What to do: ask your lender for a copy of the completed questionnaire. It is one of the most useful snapshots of the association you will see before closing.

The reserve study

A reserve study lists the big parts of the building the association replaces over time, such as roofs, paving, elevators, siding, and windows. It estimates when each will need work and what it will cost, then sets out how much to save each year to pay for it.

  • Impact on your loan: for Fannie Mae loan applications dated on or after January 4, 2027, a project generally must budget at least 15 percent of its assessment income for reserves, up from 10 percent. The alternative is funding at the highest level recommended in a qualifying reserve study.
  • Impact on the HOA: a community that falls short may need to raise dues or levy a special assessment to catch up, and in the meantime it can be harder for buyers to finance.
  • What to do: ask for the latest reserve study and its date, then compare the recommended yearly savings with what the current budget actually sets aside. North Carolina's Condominium Act does not require a reserve study, so not every community has one. Check the "Reserves" row in the Dues table to see what each declaration requires.

My post on Fannie Mae condo financing changes in 2026 goes into more detail.

HomeWiseDocs and other document portals

Many management companies do not email documents. They send buyers, agents, lenders, and closing attorneys to an online portal such as HomeWiseDocs to order the resale package, governing documents, lender questionnaire, and statement of unpaid assessments. Each item carries a fee set through the portal, and who pays it depends on your contract.

  • Ask early which portal, if any, the community uses. Self-managed associations usually handle requests directly through the board.
  • Check the date on every document you receive, and make sure the set includes every recorded amendment. Compare it with the document list for that community in the library below.
  • Ask for the current Rules and Regulations, the budget, the latest financial statements, the reserve study, recent minutes, and the master insurance certificate, not only the declaration and bylaws.
  • North Carolina caps the fee for the statement of unpaid assessments at $200, plus up to $100 to rush it, under G.S. 47C-3-118. Other documents can carry their own fees.

HO-6 insurance and the master policy

The association's master policy covers the building and common elements the way the declaration describes. Some master policies cover units as they were originally built. Others cover only bare walls. Your own HO-6 policy fills in what the master policy leaves to you.

  • What an HO-6 usually covers: your belongings, your interior finishes and upgrades, personal liability, living costs if you cannot stay in the unit after a covered loss, and often loss assessment coverage.
  • Loss assessment coverage can help pay your share when the association assesses owners for a master policy deductible or a loss the master policy does not fully cover.
  • The deductible matters: several declarations here charge part of the master deductible to the owner whose unit had the loss. See the "Insurance" topic for each community's wording.
  • Lender rules: Fannie Mae requires an owner policy when the master policy does not cover the unit interior or has a per-unit deductible, and for applications dated on or after July 1, 2026, a master per-unit deductible over $50,000 makes the project ineligible.

Send the declaration's insurance section to your insurance agent before you choose coverage. NAR's consumer guide to condominium insurance is a good plain-language overview.

FHA and VA loans

FHA and VA keep their own condo approval lists, separate from Fannie Mae and Freddie Mac. You can look up a building on HUD's FHA approved condominium search, and your VA lender can check the VA list. An expired approval does not mean a building cannot be financed, but it narrows the options, so ask early.

How you plan to use it

The documents apply to your life in the building, not only to the loan. Before you write an offer, use the planner at the top of the comparison to open the rules that match your plans, then read those pages yourself:

  • Living there full time, now or later
  • Renting it out, short term or long term
  • Bringing a dog or other pet
  • Renovating or combining spaces
  • Keeping a close eye on dues and assessments

Open the Planner

Page 6

How the Documents Fit Together

Each layer has to follow the ones above it. When two documents disagree, the higher one usually controls, and most declarations say so outright.
1

North Carolina law

The North Carolina Condominium Act (Chapter 47C) governs condos created after October 1, 1986. Older condos were created under the Unit Ownership Act (Chapter 47A), and key parts of 47C now apply to them too.
2

The Declaration and its amendments

Recorded at the Register of Deeds like a deed. It creates the condominium, draws the line between your unit and the shared property, sets how costs are split, and holds the big use rules. Amendments change it, so the newest recorded amendment on a topic is the one that counts.
3

Articles and Bylaws

The articles create the association as a nonprofit corporation. The bylaws explain how it runs: the board, elections, meetings, quorum, and budgets. Some are recorded with the declaration and some are kept only by the association.
4

Rules and Regulations

Adopted by the board, usually not recorded. Pet details, parking, move-ins, and renovation hours often live here. They can change at a board meeting, so always ask for the current copy.
5

Board policies and resolutions

Collection policies, fine schedules, maintenance charts, and architectural request forms. Not recorded, but they shape everyday life.

Recorded documents

Public at the Guilford County Register of Deeds. Search by condominium or association name, or by the book and page listed in this library.

From the association

Current rules, the budget, financial statements, the reserve study, minutes, and the insurance certificate come from the board or management company, sometimes through a portal like HomeWiseDocs.

When you buy

The seller authorizes release of association documents through the Owners' Association Disclosure Addendum (Form 2A12-T). My HOA and Condo Buyer Resources page and my post on why you can't get condo financials before making an offer explain the timing.

Page 7

The Association Health Check

The documents tell you how a community is supposed to work. These questions tell you how it is actually working. Check them off as you get answers. Your checks stay in this browser only.
0 of 14 answered

Money

The building

Insurance

Governance

Living there

Page 8

What North Carolina Law Adds

These state rules apply even when a declaration is silent. Each links to the statute on ncleg.gov so you can read it yourself.

Budgets go to the owners

Within 30 days after adopting a budget, the board sends owners a summary and sets a meeting 10 to 60 days later. The budget stands unless a majority of all owners, or a larger number set by the declaration, rejects it. G.S. 47C-3-103

Fines need a hearing

Before a fine or suspension, the owner gets notice and a hearing. A fine can be up to $100 per violation, with up to $100 a day if it continues more than five days after the decision. G.S. 47C-3-107.1

Late charges have limits

Late charges are capped at the greater of $20 a month or 10 percent of the late installment, and interest is capped at 18 percent a year. G.S. 47C-3-102 and G.S. 47C-3-115

Liens and foreclosure

Dues unpaid for 30 days can become a lien once a claim of lien is filed, after at least 15 days' written notice. A lien made up only of fines can be enforced only through the courts. G.S. 47C-3-116

Records and statements

Owners can inspect financial records, and the association provides an annual income and expense statement and balance sheet within 75 days after its fiscal year ends. G.S. 47C-3-118

Meetings are open to owners

Owners get 10 to 60 days' notice of association meetings and regular chances to speak at board meetings. Owners holding 20 percent of the votes can call a special meeting. G.S. 47C-3-108

Older condos follow parts of the newer law

Wafco Mills (1982) and The Hampshire (1984) were created under the older Unit Ownership Act. Under G.S. 47C-1-102, several 47C sections, including those on fines, meetings, liens, and records, also apply to them for events after October 1, 1986. Fair housing laws apply to every community, whatever its documents say.

Page 9

The Full Library

Every recorded document for each community, with a link to open it, plus every topic in one place. Search for a word to find it across all communities.

Page 10

A Library That Keeps Growing

I add communities as I pull their recorded documents. If you own in a Greensboro condo or HOA community and want it added, or you serve on a board and have a newer amendment or your current rules, send it my way and I will add it to the library.

Suggest a Community

Already an owner?

Make a written request to the board or manager to inspect the financial records and minutes, and keep a copy of your request.

Read the budget packet

The owner meeting after the budget summary goes out is your chance to ask about reserves, insurance, and big projects.

Run for the board

Boards are volunteers, and many struggle to fill seats. My post on running a self-managed HOA covers what it takes.

Page 11

Condo Documents FAQ

Doesn't my lender check the HOA's finances for me?
Your lender reviews the community to decide whether the building is acceptable for the loan program, using a condo questionnaire and the budget. That review protects the loan. It does not tell you whether you can rent the unit the way you plan, whether your pet is allowed, what your dues cover, or whether the association is saving enough for its next big project. Those are questions you answer by reading the documents and the financials yourself.
What is a condo questionnaire?
It is a form the lender sends the association or its management company, often Fannie Mae's Form 1076 or the lender's own version. It asks about the budget and reserves, owners behind on dues, insurance, lawsuits, critical repairs, commercial space, and how many units one owner holds. The answers can decide whether the loan is approved. Ask your lender for a copy of the completed form.
What is a reserve study, and how does it affect my loan?
A reserve study lists the big parts of the building the association will need to repair or replace, estimates when and what it will cost, and recommends how much to save each year. For Fannie Mae loan applications dated on or after January 4, 2027, a project generally must budget at least 15 percent of its assessment income for reserves, or fund at the highest level recommended in a qualifying reserve study. A community that falls short can be harder to finance and may need to raise dues or levy a special assessment.
What is HomeWiseDocs?
HomeWiseDocs is one of several online portals management companies use to deliver resale packages, governing documents, lender questionnaires, and statements of unpaid assessments. Buyers, agents, lenders, and closing attorneys order documents there and pay the fees set through the portal. Check the date on every document and make sure every recorded amendment is included.
Do I need an HO-6 policy if the association has a master policy?
Usually, yes. The master policy covers the building and common elements as the declaration describes, sometimes only bare walls. An HO-6 covers your belongings, interior finishes and upgrades, liability, and often loss assessment coverage for your share of a master deductible. Some declarations require an HO-6 and some do not, and lenders may require one. Send the declaration's insurance section to your insurance agent.
Can a condo association limit rentals in North Carolina?
Yes, through its declaration. The communities in this library range from no recorded minimum lease term to a one-year minimum with a 20 percent rental cap. Leasing rules can change by amendment, so read the current recorded documents and any board rules before buying a unit to rent.
Is this library legal advice?
No. Each entry is a short AI-assisted paraphrase that points to a page in a recorded public document, so you can read the wording yourself. The documents control, and unrecorded rules and later amendments may apply. For advice about how the documents apply to your situation, talk with a North Carolina real estate attorney. Justice Law Group is one of the firms on the Joy Watson Real Estate Preferred Vendors page, and you may choose any attorney.

Buying or Selling in One of These Buildings?

I can help you get the full document set, the questionnaire, and the financials during due diligence, and point you to the right professionals for the questions only they can answer.

Joy Watson, Realtor®, Owner and Broker-in-Charge, Joy Watson Real Estate, 909 W Wendover Ave, Greensboro, NC 27408. License #307423 | Firm License #C37131 | Office ID GWATSU01. Equal Housing Opportunity. Committed to the letter and spirit of fair housing law.

This library links to recorded instruments retrieved from the Guilford County Register of Deeds in October 2026. The short entries are AI-assisted paraphrases meant to help you find the right page. They are educational, not legal advice, and are not a substitute for the documents, which control. Scanned records can be misread, and unrecorded rules, board policies, and later amendments may apply. Joy Watson is a real estate broker, not an attorney. For advice about how these documents apply to your situation, consult a North Carolina licensed attorney of your choosing. Joy Watson Real Estate is not affiliated with or acting for any of these associations. Lender program rules change often; confirm current requirements with your lender. All information deemed reliable but not guaranteed.