Closing Letter and Transfer Fee

Closing Letters
Association members will need a closing letter before selling their homes. To obtain a closing letter, contact Community Association Board Member Laura Pugh at laurafarmerpugh@gmail.com. The cost of the closing letter is $150, payable to the Mount Vernon Woods Community Association. 

Transfer Fee

When an association member sells their home, a transfer fee must be paid at closing by the new owner. The transfer fee will be an amount equal to the annual dues for the year in which the sale of the property occurs. The transfer fee offsets the cost of welcoming new members, updating administrative records, and equipping them (with fobs, etc.) to access our shared amenities. Having a transfer fee is customary for almost all home-owner associations.

The transfer fee was instituted in October 2023 after the passing of an amendment to revise the Mount Vernon Woods Community Association Covenants. 

(e)(1) Transfer Administration Fee. In addition to the annual assessments authorized by this Declaration and the Initiation Fee required by Section 5(e), supra, the Association shall also levy and collect, upon the occurrence of every sale, transfer, or conveyance of ownership of a Lot, including all resales, a Transfer Administration Fee equal to the Association's annual Permanent Member Assessment. Said Transfer Administration Fee shall become immediately due and payable to the Association by the purchaser at the closing of each Lot, and not the date of recordation of any deed of conveyance.

Please note the two exceptions:

No transfer fee shall be due to the Association because of a conveyance of a Lot to an Owner's spouse, child, or a corporation, partnership, company, or legal entity in which the Owner is a principal.

The twenty (20) lots that are located in the Mount Vernon Cove neighborhood shall only be required to pay to the Mount Vernon Woods Association one-half (1/2) of the aforesaid Transfer Administration Fee upon the occurance of every sale, transfer, or conveyance of ownership of a Lot.