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General DVC Discussion For discussion on how the DVC works and resort information. |
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26 Jan 18, 11:02 AM |
#1
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Gone all Goofy
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Buying resale Itin number?
Hi ive been told I need an itin number because the seller is international as well, not knowing much about this I did an internet search to which I’m even more confused. It looks like an extra cost, I could get hit if seller doesn’t pay his taxes, I might have to go to the embassy with passport or at the very least send passport away and it makes it a longer process with some reporting 5 to 6 months!
If anyone has been through this could you please tell me how it went as I’m thinking I can do without all this and cancel sale as I only put the bid in on Wednesday sent deposit and signed papers yesterday so still within 10 day window. I became a grandad for the first time two weeks ago and this is a surprise present for my daughter and new granddaughter, I’ve put her name on the contract as well as mine (which was fun telling her to sign 3 documents and don’t ask any questions while hiding all the other information). Does this mean she needs an itin number too? Sorry to ramble on but I’m seriously stressing out over this and just wish I bought off an American owner, any help would be much appreciated, thank you |
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26 Jan 18, 12:00 PM |
#2
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Imagineer
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We bought our second resale contract from an 'international seller' so it meant we needed ITIN numbers, this was about 2 years ago now. I remember the confusion at the time as to whether we needed to sort it ourselves. after Disney waived ROFR an agent from magic vacation title who were dealing with the paper work involved in the sale contacted us regarding the ITIN and gave us a contact email to arrange this with the FIRPTA (foreign tax) agent, she explained their would be no cost for us. The FIRPTA agent compleyed all the forms and all we needed to do was print them and sign them and return them with a clear photo copy of our passports open on the photo page. It took about 6-8 weeks after this but we received an email with our ITIN documents attached and then a few weeks later we got the paper documents in the post. It was all very easy and they talked us through it from start to finish. I was just concerned as the process wasn't even started until after we passed ROFR but I suppose had Disney purchased it there would have been no need for us to get them.
If you've got any other questions just ask.
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ASMo, ASMu x4, SSR x2, BLT x 4, CSR, POLY, AKL x 4, BC x 4, BWV, CC, OKW DVC MEMBER - BLT & SSR |
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26 Jan 18, 12:28 PM |
#3
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Thread Starter
Gone all Goofy
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26 Jan 18, 12:35 PM |
#4
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VIP Dibber
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We bought resale from an international seller last year through DVC Resale Market. They also used Magic Vacation Title for the paperwork. It cost an extra $50 for their tax specialist to obtain ITIN for both of us. We had to fax copies of our passport to her to prove identity and this was followed up with a 10 minute Skype interview with her. It did not hold up the purchase at all. Don't think there is any danger of the tax not being paid as it the agent takes care of all that before the proceeds of sale are transferred to the vendor.
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DVC Member BCV, BLT & VGC |
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26 Jan 18, 12:56 PM |
#5
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Thread Starter
Gone all Goofy
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26 Jan 18, 01:05 PM |
#6
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VIP Dibber
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It's part of the ID process. There may be an alternative way of doing things but probably a bit more hassle. The tax specialist we dealt with was a lady called Nancy Carpenter. Good Luck
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DVC Member BCV, BLT & VGC |
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26 Jan 18, 01:09 PM |
#7
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Imagineer
Join Date: Jan 03
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26 Jan 18, 03:10 PM |
#8
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Imagineer
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Nancy carpenter was the lady who set us up with a guy called Freddy Miranda who took care of all of the ITIN paper work, we didn't have any Skype interview or anything and it cost us nothing at all, so sounds like we were either very lucky or the process has changed slightly since April 2016. It didn't hold up our purchase at all, we actually had our second membership numbers long before our ITIN was finalised.
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ASMo, ASMu x4, SSR x2, BLT x 4, CSR, POLY, AKL x 4, BC x 4, BWV, CC, OKW DVC MEMBER - BLT & SSR |
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26 Jan 18, 08:41 PM |
#9
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Imagineer
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This was exactly our experience. We dealt with Nancy Carpenter too. It all seemed very straightforward.
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27 Jan 18, 08:36 AM |
#10
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Imagineer
Join Date: Jun 16
Location: God's Own Country
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The good news is if you ever come to sell, you'll have the number already.
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