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General DVC Discussion For discussion on how the DVC works and resort information. |
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11 Jul 19, 02:03 AM |
#1
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Apprentice Imagineer
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Has anyone sold their DVC? Any tips?
Many years ago I sought advice on here on buying a DVC, so I thought today it would be a good idea if I asked for advice on selling it.
It's not a decision I have taken lightly but after having gone through a rather expensive and corrosive divorce selling the DVC at the current exchange rate looks like quite an attractive way of clearing my feet. I've contacted the resale company - DVC Resale - that I bought from and they've quoted an 8.5% commission rate and the $150 Disney estoppel fee. And they've informed me about the FIRPTA tax. Has anyone sold a contract? Are there better ways / cheaper ways to sell the DVC and did you hire a FIRPTA specialist to reclaim the tax? |
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11 Jul 19, 06:07 AM |
#2
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Imagineer
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We sold a few contracts a few years back. We did sell through one of the large companies but claimed the 10% back ourselves.
Once we had our ITIN numbers the paperwork was straight forward. Our contracts were in joint names so we both had to apply for an ITIN and both claim half of the tax back. We had been told by IRS we could apply for the ITIN in person and made a special trip (any excuse ) however this wasn’t possible and we had to post our ID and passports over. Dawn
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11 Jul 19, 08:08 AM |
#3
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Imagineer
Join Date: Jan 03
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We sold one of our contracts two years ago. We used the same same resale company that we purchased it with...ResaleDVC. They charged 8% commission and $400 for the FIRPTA specialist. We sent scans of our passports and had a FaceTime interview with her. From closing to receiving our tax back took less than 10 weeks. We have our ITIN if we ever want to sell any more contracts.
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12 Jul 19, 04:47 AM |
#4
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Thread Starter
Apprentice Imagineer
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Thanks guys. That gives me a bit more confidence.
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14 Jul 19, 06:50 PM |
#5
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Apprentice Imagineer
Join Date: Jun 08
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Like Barry and Caron we used ResalesDVC and sold our two contracts earlier this year, highly recommend both them and their FIRPTA specialist. We’ve had a few twinges of regret since selling but the overriding feeling has been one of relief and we feel that we sold at the right time for us.
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7 Aug 19, 01:03 AM |
#6
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Imagineer
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We’ve very recently sold our contract, the notoriety we used had done 3 in our local area within a couple of months, no idea who we used DH did it all I just signed but I do know what we got for it and we where pleased
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1998ShWld 99ASM 2001Amhost 2002ShWld 2004POR 2006Poly 2008Poly 2009SS/UnRPR 2010dvc Kidani 2011dvcBCV/UnHRH/Kidani2013 dvcOKW/UnHRH/Kidani 2015dvc Kidani/DCL(dream)/BWV/GFV DVC Member Animal Kindom Lodge KIDANI our Home Resort |
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7 Aug 19, 02:46 PM |
#7
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Proud to wear my Ears
Join Date: Jun 09
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7 Aug 19, 04:32 PM |
#8
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VIP Dibber
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8 Aug 19, 01:24 PM |
#9
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Imagineer
Join Date: Jan 03
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8 Aug 19, 01:26 PM |
#10
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Imagineer
Join Date: Jan 03
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