A scam is when a consumer or homeowner did not receive what he anticipated or expected. The disappointment can be defined as a scam. For the purposes of this analysis, Bella Collina real estate losses in the community (central Florida), bad returns on investments, short-term residence in Bella Collina, disappointments from the club, or from anything promised or refusal to pay the fees, and dumping the investment can be perceived as a scam by homeowners.
Those who believe that they suffer from scams in Bella Collina lose money on the lots they purchase. They lose money on homes initially valued at millions of dollars. Homeowners might be forced to wait between two and four years for their houses to sell in order for them to receive returns on their property investments.
Is Waiting Four Years to Sell Your Bell Collina House Feels Like Being Scammed?
The answer may be YES. Homeowners who were pitched a quick and easy return on their investment in Bella Collina may feel scammed if they have to wait four years to sell their homes. Can it be that only 6 properties were sold in 2018 after a 44 months wait in Bella Collina?
Losing $1.5 Million Can Definitely Make You Feel Scammed
A homeowner only stayed in Bella Collina for 1.5 years. When he decided to sell his home, he asked for 50 percent more than he had paid. However, after being forced to wait for three years, paying expenses like taxes, fees, and Bella Collina club charges, he easily lost $1.5 million.
Jan 2018 asking price: $1,939,000
March 2019: $399,000
Duration: 430 (my calculation) to 611 days (Zillow reporting – that’s almost 2 years and NO SALE)
Price drop: $1.5 million
+ Additional loses of $35,000 to per year for high club dues, HOA, tax, and value of money.
Six Years to Sell and 130 Percent Loss Can Make You Feel Scammed
A Bella Collina homeowner at 16021 Vetta Drive seems to have lost 130 percent of his investment after purchasing a home in the community. He was forced to wait to sell the home, and at one point lost $100,000 overnight.
What should have been a thriving community with several families inhabiting the homes built there instead is an empty ghost town, with lots that haven’t been built on and construction sites abandoned on every street. Bella Collina bills itself as a “Luxury Orlando Real Estate.” It also claims to be near downtown Orlando, but is a 45-minute drive count as being “near” a location?
Are houses crammed next to each other the definition of “luxury?” It would appear not. Forget having intimacy, or privacy, without people looking into your windows. If your Bella Collina house is located next to the club, then you are subject to many noisy events taking place almost every day.
Does the Owner of 15214 Pendio Drive, Bella Collina Feel Scammed?
The homeowner who purchased 15214 Pendio Drive, Bella Collina, in 2005 might feel scammed. He sold the property 14 years later for nearly $500,000 less than he bought it. If he bought the property thinking that he would profit from the investment, then he was wrong. In addition, he had to pay all the fees for the POA and the clubhouse while he owned that property.
The fees per year, as mandated by the POA run by Dwight Schar’s “enforcer,” Randall Greene, is $40,000. If property owners and homeowners do not pay these fees, they are sued in court by Dwight Schar’s extensive legal team. The fees for the clubhouse did not start until 2012 when Dwight Schar took over the community. Even so, the owner would have had to pay $280,000 in fees. At a minimum, this owner lost $780,000 over the course of fourteen years.
Disclaimer: Please check the facts with BellaCollina.com and their salespeople before making a decision.This article is merely the opinion of the writer and not that of the publication or any other official authority. There are points to think about and you should be doing your homework based on any other facts you may choose including checking court records, other sites, and interviewing the subject/s of the article for comments.