Canadian DVCers?

[mapletree]

Any Canadians buy DVC? What was your experience like processing the paperwork?

Also, if you decide to sell later how complicated is the legal paperwork?

Thanks in advance for sharing any tips!

 

[MikeJ]

We've bought two resales at OKW over the past two years. Never had a problem with the paperwork other than the delay in getting things to/from Orlando in a timely fashion (our most recent purchase closed just after September 11). In fact, our first one closed in less than 4 weeks. The only part which really hurts is the currency exchange.

We've never sold a DVC contract, but I wouldn't think the process would be much more difficult than purchasing - but someone else may be better able to speak to that than I can.

- Mike

 

[DSNY FN]

We purchased ours this year and it was a snap Disney courier'd all the documents to us with return courier service and we signed everything and sent it back and had no problemsso our experiance was great we don't know much about the selling part ask PoohBWV I think they sold theirs.
Darren & Lisa

 

[PoohBWV]

We sold our contract last summer. The process was fairly easy - we used First American for our closing company. You need to be aware however, that when you sell, 10% of the purchase price will be withheld and remitted to the IRS. It is then up to you to file a US income tax form in order to get the money back. In order to file a tax form, which we are in the process of doing, we had to obtain a taxpayers number. In order to obtain a taxpayers number we had to send my husbands original passport to the IRS office in Philadelphia in order to prove he was a Canadian citizen. We weren't too happy about sending the passport away, but our only other recourse was to visit an American Consulate here in Canada, which unfortunately is located a great distance from our home, or go the the US and find an IRS office and apply for one there.