Deed restrictions

[Marc Freislinger]

I found this in the MLS listing of a property I was checking out today.

Cash transactions are subject to special deed restrictions. The Grantee(s), or purchaser(s), of the Property may not re-sell, record an additional conveyance document, or otherwise transfer title to the Property within 60 days following the Grantor’s execution of this Deed.

I remember reading a discussion before about how the banks can't legally do this. Has anyone had luck getting around something like this? I assume it's legal because you're agreeing to it in the addendum (or they won't sell to you). What are the consequences of violating such a provision?