Any one from uk....

[princess jackson]

Sold their dvc ownership.

If so,
How long did it take
Who with
What were the costs
And any tips

Thanks

 

[Revtel]

Took about three months from beginning to end.

Costs - 10% to the agent and another 10% to the US Government

Allow another £100 or so for incidentals such as postage, telephone, legal costs etc.

You will lose again when you transfer the dollars into real money.

Also bear in mind that resale prices have fallen sharply since the recession, and you will be unlikely to get your asking price.

All in all, not a great experience, and only to be done if you need the cash.

 

[Sue's Mum]

Is it not possible to reclaim the tax paid to the US government?

 

[mark&sue]

may be you can just rent the points for a few years? We rent our out every few years as Mark gets fed up with back to back disney trips


susan

 

[Revtel]

Is it not possible to reclaim the tax paid to the US government?

In theory, yes, but it is very complicated.

When I purchased points at SSR, I asked the rep about this tax, and he assured me that it was levied only on the 'profit', or increase in value.

That is not true, it's payable on the gross sum received, even if you make a loss (as most of us will), so be careful.

Nasty little tax.

It makes much more sense to just rent or transfer unwanted points these days.

 

[princess jackson]

Update

I have signed up, and currently waiting for the list to be updated.

Fingers crossed I have a smooth sailing

 

[Revtel]

Best of luck.

I'd be interested to know how you get on

 

[Lisa1976]

In theory, yes, but it is very complicated.

When I purchased points at SSR, I asked the rep about this tax, and he assured me that it was levied only on the 'profit', or increase in value.

That is not true, it's payable on the gross sum received, even if you make a loss (as most of us will), so be careful.

Nasty little tax.

It makes much more sense to just rent or transfer unwanted points these days.

I'm afraid I have to disagree. We had to sell our DVC points a couple of years ago. We did this through the Timeshare Store - very easy.

Then we were directed to a solicitor in Orlando who could act on our behalf to reclaim the tax. Yes it took about a year to get the tax back, but we got it all back. We had to pay about $300 to the solicitor but we got nearly $2,000 back so it wasnt too bad. It was an easy process with the solicitor helping us and explaining forms to us along the way, she sent them out, we signed and that was all there was to it.

Hope that helps.

 

[princess jackson]

Well as of 8pm last night (16/3/11) it's been sold

Got a phone call from timeshare store to say paper work got to be back by Friday

 

[Lisa1976]

Yay thats great news, well done! I would definately ask for Timeshare Store to point you in the direction of the solicitors they recommend for getting the tax back when the time comes. Its worth it in the end

 

[princess jackson]

Well buyer pulled out, just ready to email my signed copies.

Got phone call saying another buying who is offering $3 per point less (750). I declined it

 

[Revtel]

Well buyer pulled out, just ready to email my signed copies.

Got phone call saying another buying who is offering $3 per point less (750). I declined it

That's sad, but it's a buyers market right now.

Three years ago, we sold some of our OKW points for $78 per point through the Timeshare Store. The same points are now advertised at under $60, and even then, any seller will be getting 'offers' such as you have received.

We've decided it's no longer worth selling our remaining points because of the current situation, not to mention the statutory 'deductions' I mentioned earlier.

Managed to rent our points last year, and will be doing the same this year. After seven years of that, we'll have received as much as we would have done if we had sold them (even allowing for Annual Dues), and we will still own the points. Can't be bad!

 

[princess jackson]

Well they came back and offered asking price, so back as sale pending.

Hope this one goes through

 

[skelfbsfb]

Best of luck mind and keep us all updated on your progress.

 

[princess jackson]

Updated, my ownership has gone to Disney for RFR (right of first refusal)

 

[skelfbsfb]

Updated, my ownership has gone to Disney for RFR (right of first refusal)

Well your nearly there, hope they pass it quickly for you.