Selling my DVC contract - how to receive USD?

[Sherman]

Hi all

I'm in the process of selling my DVC contract. We've received an offer which is slightly lower than we were hoping for, but think we will accept as it's been on the market for a while.

I'm after any thoughts/experience/advice on how to receive the payment in USD from the company - DVC Resale Market. Has anyone opened a USD account for something like this, or just accepted the FX costs from a UK bank?

Thanks!

[Jan]

The company we used automatically used PayPal. No compromise.

[Pootle]

Originally Posted by Jan

The company we used automatically used PayPal. No compromise.

See more...

Same here when we sold a couple of our smaller contracts. We used the Timeshare Store.

[JasonErpelding]

Originally Posted by Sherman

Hi all

I'm in the process of selling my DVC contract. We've received an offer which is slightly lower than we were hoping for, but think we will accept as it's been on the market for a while.

I'm after any thoughts/experience/advice on how to receive the payment in USD from the company - DVC Resale Market. Has anyone opened a USD account for something like this, or just accepted the FX costs from a UK bank?

Thanks!

See more...

If for some reason it doesn't work out with them we would be happy to list your property as well. DVC Resale Market has an open listing agreement and so do we. You can list it with both companies and when one sells it you let the other company know to take it off the market.

Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®
buyandselldvc

[fudgie]

I sold mine through DVC Resale Market and opted to have the funds paid directly into my UK bank account. The Title Company took a $75 charge to make the payment. The exchange rate was ok and I wasn't charged any fees by my UK bank. The payment process was very quick - I can't say the same for getting the FIRPTA tax back though!

[Sherman]

Thank you all for your help and comments.

Originally Posted by fudgie

I sold mine through DVC Resale Market and opted to have the funds paid directly into my UK bank account. The Title Company took a $75 charge to make the payment. The exchange rate was ok and I wasn't charged any fees by my UK bank. The payment process was very quick - I can't say the same for getting the FIRPTA tax back though!

See more...

Fudgie - did you sort out the FIRPTA claim yourself or use an agent in the US?

[fudgie]

Originally Posted by Sherman

Thank you all for your help and comments.



Fudgie - did you sort out the FIRPTA claim yourself or use an agent in the US?

See more...

I used an agent. I couldn't be bothered having to decipher and complete all the paperwork myself There is a bit of form-filling and you have to do a face to face Skype interview but the agent guides you all the way and for me, it was the best option. The tax refund came through about 10 weeks after the sale was completed

[BarryandCaron]

Originally Posted by fudgie

I used an agent. I couldn't be bothered having to decipher and complete all the paperwork myself There is a bit of form-filling and you have to do a face to face Skype interview but the agent guides you all the way and for me, it was the best option. The tax refund came through about 10 weeks after the sale was completed

See more...

Same with us, we used Nancy Carpenter for our FIRPTA. We sold ours with ResalesDVC and opted to use our UK bank account.

Have you sold all your points now Fiona?

[JasonErpelding]

Both Nancy Carpenter and Wade Johnson are excellent with helping with the FIRPTA.

Wade F. Johnson, Jr.
U.S. FIRPTA, LLC
4255 Tidewater Dr.
Orlando, FL 32812-7949
Certified Acceptance Agent
Phone: 407-859-2388
Fax: 407-429-3825
wade@usfirpta.com
Fee is typically: $450

__________________________________________


Nancy Carpenter, AFSP
Foreign Investors Tax Services LLC
FIRPTA Specialist
ITIN Certified Acceptance Agent (CAA)
Notary Public
Tax Returns for Foreign Investors/ Rental Properties & Tax Withholding
P.O. Box 722
Intercession City, Florida 33848
Phone: 407-301-0638
Fax: 407-308-0648
Email – nancy@fitaxes.com
Web address: fitaxes.com
Skype user name – nancyfits
Interview option:
Zoom / a link will be provided to you
Fee is typically: $450


Jason Erpelding
Lic. Real Estate Broker
Buy and Sell DVC, Inc.®

[fudgie]

Originally Posted by BarryandCaron

Same with us, we used Nancy Carpenter for our FIRPTA. We sold ours with ResalesDVC and opted to use our UK bank account.

Have you sold all your points now Fiona?

See more...

Hi Caron Yes they're all gone

Family illness made it impossible to commit to any overseas holidays so we rented our points out for 5 years running, but with the ever increasing dues at Vero and the crappy exchange rate we decided to sell.

We might look at buying again in the future but for now it's a relief not having to find those pesky dues this month!