calculating points/ other questions

Sales thru international sellers can take longer to go to settlement due to the added paperwork that the seller has to submit. The good news is that the contract you're looking at has been on the market for a while (if it's the one that I saw back in July when I was also in the market for a BWV contract w/150 pts. and Dec. UY, it still hasn't sold), so you should be able to have some room to negotiate on price.

I figured that it has been on the market and I guess it makes me even more nervous. Should I be?
 
I figured that it has been on the market and I guess it makes me even more nervous. Should I be?
I'm not sure why you would be more nervous about that contract than any other. As long as you go into the transaction with the information that you need and knowing that you will not be able to close the deal until later than normal, I don't think there's too much to worry about. I happened to find a better deal (lower asking price, loaded contract with all 2015 points banked, no MF until 2017) and I wanted my points in time to book 2017 F&W.

You can make a low-ball offer if you think that you can deal with the wait. The seller can always refuse or counter-offer.
 
I'm not sure why you would be more nervous about that contract than any other. As long as you go into the transaction with the information that you need and knowing that you will not be able to close the deal until later than normal, I don't think there's too much to worry about. I happened to find a better deal (lower asking price, loaded contract with all 2015 points banked, no MF until 2017) and I wanted my points in time to book 2017 F&W.

You can make a low-ball offer if you think that you can deal with the wait. The seller can always refuse or counter-offer.

Thank you. If 150 points come on 12/1/2016 those points can be used for 2017 travel, correct? I am in no rush as I don't plan on travelling in 2017 myself but I would be interested in renting them out if I could.
 
Thank you. If 150 points come on 12/1/2016 those points can be used for 2017 travel, correct? I am in no rush as I don't plan on travelling in 2017 myself but I would be interested in renting them out if I could.
The points can be used for travel any time between Dec. 1, 2016 - Nov. 30, 2017. They could also be borrowed into the 2015 UY for travel between now and Nov. 30, 2016 or banked into the 2018 UY for travel any time between Dec. 1, 2018 - Nov. 30, 2018.
 

I bought resale from UK sellers, and it went totally fine. There's nothing additional to be worried about. At the end of the day, they are still just regular people looking to sell their DVC timeshare.
 
Thanks for everyone's responses! So I see a contract that looks good for me. I am very nervous to inquire about it. 150 points BWV. States international seller. Does that make a difference? Also I would be interested in renting out my points for the next couple of years. The UY is December with 150 on 12/2016 and 150 on 12/2017. Will that be an issue?

If you're just planning on renting the points, I would wait on purchasing for at least a couple of years. Resale prices are sky high right now. They'll settle down again soon ..
 
I bought resale from UK sellers, and it went totally fine. There's nothing additional to be worried about. At the end of the day, they are still just regular people looking to sell their DVC timeshare.

Thank you. Someone posted being required to withhold taxes according to FIRPTA Rules. Do you have any experience with this? I don't understand what it means.
 
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How important is a "home resort"? Now I think I am going to tone it down a bit and look into BW Studio. So for one week it is 107 points for preferred. Is it a must that I purchase BW points? Also for travel in August or October what use year should I look into?

An August UY would be ideal for travel in August/October. June UY would be next choice.
 
I don't understand the tax withholding. Could you explain it more?
Here is the info from the IRS website

https://www.irs.gov/individuals/international-taxpayers/firpta-withholding

We have not gone through with a sale from a foreign seller so I can't give you extremely detailed info but IRS regulations require the tax to be withheld from the sale and paid along with correct tax form(s) filed. As I stated previously my understanding is that this is typically handled by the title/closing company. In order for them to file the paperwork on your behalf they need your social security number to submit it. We do not like to disclose our social security number if/when not absolutely necessary and we are very risk averse so we decided to simply buy from a US seller instead. Many posters here have had good experiences buying from international sellers it just wasn't something we were interested in pursuing.
 
Thank you. Someone posted being required to withhold taxes according to FIRPTA Rules. Do you have any experience with this? I don't understand what it means.
If you search FIRPTA and/or international seller on the board here you will find many threads with various explanations and posters first hand experiences.
Also Google it and you will find similar discussions on other websites as well
 
Thank you. Someone posted being required to withhold taxes according to FIRPTA Rules. Do you have any experience with this? I don't understand what it means.

To be 100% honest, I really don't recall this coming up, but the withholding is done as a safeguard in case the seller does not pay the tax. The agent or closing company should submit the withholding to the IRS on your behalf. You send your check to the agent for the full amount, they send the seller their amount less the withholding, and send the withheld amount to the IRS on your behalf. The sellers can then apply for a refund to that money. The reason this is done because there is no way for the IRS to compel a foreign person to pay the tax.

Any reputable dealer should have full understanding of this and be able to walk you through the process.
 
To be 100% honest, I really don't recall this coming up, but the withholding is done as a safeguard in case the seller does not pay the tax. The agent or closing company should submit the withholding to the IRS on your behalf. You send your check to the agent for the full amount, they send the seller their amount less the withholding, and send the withheld amount to the IRS on your behalf. The sellers can then apply for a refund to that money. The reason this is done because there is no way for the IRS to compel a foreign person to pay the tax.

Any reputable dealer should have full understanding of this and be able to walk you through the process.

Ok so if the purchase price is 15000 I take 15% of that which would be 2250. I make a check out to the IRS for 2250? So technically I'm paying 17250 for the DVC? And if I was to purchase a non international contract I would not have to pay the 15% tax? Sorry I'm so confused.
 
Ok so if the purchase price is 15000 I take 15% of that which would be 2250. I make a check out to the IRS for 2250? So technically I'm paying 17250 for the DVC? And if I was to purchase a non international contract I would not have to pay the 15% tax? Sorry I'm so confused.

No, you just pay the $15,000. The timeshare company should divide it up between the seller and the government, and file the paperwork on your behalf. They'll handle all of this. All you do is provide your SSN so they can turn in the paperwork, and they'll send 85% to the seller and the other 15% where it needs to go.
 
Back to the UY if I plan on traveling in October am I screwed with the December UY? I would get my points December 1 and want to book BWV studio for October. I'm missing the 11 month booking start date. Will everything be sold out?
 
Back to the UY if I plan on traveling in October am I screwed with the December UY? I would get my points December 1 and want to book BWV studio for October. I'm missing the 11 month booking start date. Will everything be sold out?
You don't "get" your points on that date. You own all of your points until the end of the contract from the time that you buy. Don't think of Dec. 1 as being the day that the points get dropped into your account and become available for your use. It only means that for a Dec. UY, November 30 is the very last day of the year that you can use that year's points to complete a reservation. So, you can use your points from your Dec. 2016 UY to book for Oct 2017 at the 11-month window. No worries. It can be hard to wrap your head around the whole concept of UY, and it's especially difficult with a December UY because the points from that year are usable for reservations for the majority of the next calendar year.
 
You don't "get" your points on that date. You own all of your points until the end of the contract from the time that you buy. Don't think of Dec. 1 as being the day that the points get dropped into your account and become available for your use. It only means that for a Dec. UY, November 30 is the very last day of the year that you can use that year's points to complete a reservation. So, you can use your points from your Dec. 2016 UY to book for Oct 2017 at the 11-month window. No worries. It can be hard to wrap your head around the whole concept of UY, and it's especially difficult with a December UY because the points from that year are usable for reservations for the majority of the next calendar year.

Thank you. I think I understand a little more. As long as I can book at the 11 month window. That's all I am concerned about. What would be a reason why someone would stay away from a December UY?
 
Thank you. I think I understand a little more. As long as I can book at the 11 month window. That's all I am concerned about. What would be a reason why someone would stay away from a December UY?
Well, first of all, they're difficult to follow. Like I said before, the points from a Dec. UY can be used for the majority of the following calendar year. If you have a Dec. UY, you are currently in 2015 (so to speak).

Another reason to avoid a Dec. UY would be if you plan to travel in mostly the fall. When you make a reservation for Oct and you have a Dec. UY, you have very little time to spend those points if you have to cancel the reservation at the last minute. Points from reservations that are canceled with 30-1 day remaining before check in will go into a holding account. Those points can only be used to make a reservation 60 days or less into the future. You cannot bank any of them. Since the period of Sept.-Dec. is in high demand, you will find it difficult to use those points before they expire.
 
Back to the UY if I plan on traveling in October am I screwed with the December UY? I would get my points December 1 and want to book BWV studio for October. I'm missing the 11 month booking start date. Will everything be sold out?

When you have a few minutes, take a look at this thread:

Understanding Use Year

It should make you more comfortable with your December use year. :)
 
My offer was accepted! Thanks to everyone with all their info! More questions to come for sure!!!!!!
 















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