Rarity Bay Master Thread (purchaser, deed, tax)

[TennTitan]

RamJack - I have no additional advice that would be helpful, but I do recommend that you seek the opinions of other forum members who have indicated they are Rarity Bay residents. Perhaps they could provide the recommendation that you seek. Best of luck!

[TennTitan]

This article was published after the community of Rarity Bay had transitioned to an all-resident Board of Directors in 2013. It serves to confirm that the community transitioned from Developer control to Resident control, and this article will be added to the already extensive list of evidence that illustrates Residents were intended to be in control of Rarity Bay's future, after the failure of the Developer.

(southeastdiscovery.com)

A New Dawn For East Tennesee’s Rarity Bay Posted on April 25, 2013, by Marian Schaffer

(Excerpts)

Last fall, this established Eastern Tennessee golf and boating community located in Vonore, Tennessee, elected for the first time ever, its all-resident Board, embarking on a new path with property owners and residents and a plan that is resident focused and responsible for the benefit of this community, Rarity Bay.

The Rarity Bay Community Association (CIA) is the new legal governing entity of the Rarity Bay community and is no longer tied to either the original developer, Mike Ross or Rarity Communities, Inc. Rarity Bay is operating with positive cash flow thanks to the sound structure of this community, their HOA as residents have been paying into the Rarity Bay HOA for the past 18 years. Thanks to the new leadership of the resident-led Board, Rarity Bay as a development, along with the residents are seeing positive changes in their community that will directly benefit their community’s residents as well as their property owners who have yet to build in the community.

A new Board of Directors, 100% residents only, was established in late 2012. It’s a known fact that self-directed and self-managed community organizations are typically more effective in meeting the needs and expectations of their residents and property owners, so the new resident-run Board for Rarity Bay is looked upon with great enthusiasm and expectation.

Rarity Bay residents and property owners are thrilled with the opportunity to finally chart their own course, thereby protecting their community’s future.

[Rsaw7854]

HI TennTitan,
Sounds like all the nonresident board members should resign.

[TennTitan]

How Things Work in Rarity Bay Under Declarant:
(Court documents in public domain)

See attachment.

These communications are from just one of the lawsuits involving the community.

It started out as adversarial but turned into a deal-making venture. However, the two parties, Declarant (SPC), and Investor (BEP) attempted to conduct a settlement without the third party's (RBP) knowledge, in breach of an agreement between SPC and RBP.

More documents and emails to follow.

[TennTitan]

The Declarant seems to have a problem with contracts.

The lawsuit against defendant, Bald Eagle Partners (BEP) for unpaid club dues (that they don't owe) is a joint effort of Plaintiffs, SPC (Declarant), and SPCP, now RBP. RBP chose Garrett Swartwood as legal counsel to represent both SPC and RBP in this specific action. Both entities have a bevy of attorneys at their disposal, and now we know why.

Despite the language in the agreement, the Declarant's email reveals that he intends to breach the contract.

See attachments:

1) Declarant email to BEP contacts intending to breach contract, and Agreement terms 1,2, and 3.
2) Agreement terms 4 - 8.


SPC - Salem Pointe Capital, LLC
SPCP - Salem Pointe Capital Partners
RBP - Rarity Bay Partners

[Hovno]

Cluster-mess.
For a long time everything seems to go wrong for this piece of land, just a different era.
The greed and fear is in the process again. This uncertain situation creates anxiety through the community, yet the most of the residents and the resident board members choose to ignore it, but for how long?
There is no reason why the RBCAI board must be 50/50.
It must be 100% residents only!

[RamJack]

TennTitan: I just wanted to thank you again for providing us all with such invaluable updates and information related to RB.

Just wanted to let you know that I decided to move forward with the purchase of that waterfront home. The ‘pull’ from the surrounding beauty, as seen the peninsula, is something that I just could not avoid!

[RamJack]

LiveBestToday:

Curious, did you decide to move to Rarity Bay after all your research?

My wife and I decided to move forward with the purchase of a waterfront home. The pull of the beautiful scenery, as seen from the peninsula, was just too strong to resist, as I told TennTitan in a ‘thank you’ post to him a few minutes ago.

Regards

[TennTitan]

RamJack - Congrats on your decision to make Rarity Bay your new home! I'm sure you will be very happy with your decision and you can look forward to meeting a lot of friendly people in this beautiful place.

[TheShadow]

TennTitan, I have absolutely no idea what they are talking about. I know of only one family that has moved from TV to RB, and that was several years ago. I'd REALLY like to know what they are talking about. Why would folks move from a place with more amenities, lower fees, and convenient businesses to one right down the road that is known as financially/legally troubled, where homes typically cost more, has fewer tennis/pickleball courts, fewer golf courses, fewer docks, no businesses, and only a single clubhouse restaurant?

I think it must be wishful thinking, because homes are selling and being built in TV like crazy. Really nice and well priced homes sell at, or near, asking price, some in days. Our friend sold his place at $610k in less than a week. For some reason that deal fell out, and he had another buyer within 3 days. There is no "exodus", instead it's a massive influx of new folks. Above, they talk of adding 20 new homes in 2 years. In TV they've built and sold 20 new homes within 1/2 mile of my house in the last 9 months, not counting resales, just new builds, and that's not even 1/20th of the area of TV.

Some people like Rarity better, others like TV better, could be a matter of taste, price, amenities, etc, but I know of NO TV "exodus" to RB.