Fee & HOA Information
GOMO has No Annual Fees!! ONLY Transfer Fees
- Transfer Fees apply to Section 1, 2, 3, & 5 when property is sold
- Garden Oaks Maintenance Organization does NOT have a mandatory annual Homeowners Association Fee
- Section 4 has no transfer fee
- Documentation of the sales price should be submitted with payment
- The new owner is obligated to pay a one time assessment (Transfer Fee) when a parcel is conveyed by one person to another (except in connection with the division of community property after a divorce where ownership is conveyed to one of the original owners or as the result of the death of an Owner when conveyance is to an heir
- The Transfer Fee is equal to 0.75% of the greater of (a) the gross purchase price of the Parcel as shown on the closing statement, or (b) the appraisal of the Parcel as shown as the market valuation on the then-current records of the Harris County Appraisal District.
Example: $400,000 X 0.0075 = $3000.00
- Please calculate this fee at closing
- There is no fee due on a refinance
60 Day letters and Resale Certificates are rarely required for GO Properties
- For the following list of reasons, Resale Certificates, 60 Day letters and proof of liability insurance (GOMO) are rarely requested for property sales in Garden Oaks. If your Title or Mortgage Co. asks for one of these we suggest you seek a waiver of the requirement.
It may save you money!
- GOMO does not collect monthly or annual maintenance fees from owners and does not maintain "account balances" typical of HOAs who do collect these types of fees
- GOMO is prohibited from placing a lien on any property in Garden Oaks by Amendment A which created GOMO.
- GOMO does not own real property nor does it manage common areas
- Deed Restrictions, Bylaws, Operating Budget and Balance Sheet are posted on the GOMO website
- Information requested in a Resale Certificate which is not applicable to Garden Oaks properties are: Rules, Government Notices of Health or Housing Code Violations & Certificate of Insurance for Common Areas.
- Additional Information included in a Resale Certificate would be:
- a listing of unsatisfied judgements against GOMO = currently none
- a listing of pending suits = currently none
- a listing of existing violations pre-sale on the property = these are unenforceable per deed restrictions