Closing Time!

[VGCgroupie]

Keep in mind tomorrow may be a holiday for MA

 

[Tshea112]

Keep in mind tomorrow may be a holiday for MA

Yeah read some mixed things about them being open or closed tomorrow so who knows….

 

[Beachclubloverahoy]

Similar boat here. Contract hit the FL Comptroller site on Sep 9. Still not showing for MS to load the points. We have bought and sold quite a few contracts at this point and this process is much longer than it was even in May of this year.

Did you receive points yet?

 

[Mattyhans]

Day 34 since deed recorded smh…

 

[Tshea112]

Day 34 since deed recorded smh…

35 here..

 

[Georgia Disney Pops]

I am on day 33 since the deed was recorded (CCV). This is our 6th resale purchase and it has never taken this long. I wonder if they are trying to make direct look more attractive. We have two direct contracts and the last direct one (September 2025) was loaded before I even got off the call.

 

[Beachclubloverahoy]

I am on day 33 since the deed was recorded (CCV). This is our 6th resale purchase and it has never taken this long. I wonder if they are trying to make direct look more attractive. We have two direct contracts and the last direct one (September 2025) was loaded before I even got off the call.

Have you reached out to DVC?

 

[Tshea112]

Have you reached out to DVC?

I've tried calling, chatting with them with no success at all. I dont understand how it can take so long to set up an account...

 

[mkatsy]

I am on day 33 since the deed was recorded (CCV). This is our 6th resale purchase and it has never taken this long. I wonder if they are trying to make direct look more attractive. We have two direct contracts and the last direct one (September 2025) was loaded before I even got off the call.

No gonna lie, my contract posted with the comptroller October 7th so I’m doomed, probably looking at end of the year and it’s making me consider going direct next. I’d rather have fewer points but have them in my hand AND be able to use them everywhere. So if that is their plan, it’s working.

 

[#1Disfann]

No gonna lie, my contract posted with the comptroller October 7th so I’m doomed, probably looking at end of the year and it’s making me consider going direct next. I’d rather have fewer points but have them in my hand AND be able to use them everywhere. So if that is their plan, it’s working.

I have another contract that just passed ROFR and has a delayed closing end of January. I can't tell you how glad I am that those points aren't needed for the 2026 vaca and will be banked for 2027!

 

[Georgia Disney Pops]

Have you reached out to DVC?

A few weeks ago when we were closing on a direct contract. I had our asked our guide and he patched me through. They said the scheduled closing was for October 6th which was the original scheduled closing but we actually closed in early September.

 

[Georgia Disney Pops]

35 here..

Any luck?

 

[Birdie4]

I just purchased and closed on an international contract. There were some concerns about changes made effective 9/30/25 to submitting paper checks for FRPTA. We closed after the 9/30 change, but my title company assured me that they withheld from the proceeds and was able to submit payment for the taxes. It is my understanding that it is on me if those taxes are not paid. What do I ask for as proof that the payment was made? And is there any reporting that I need to do when I file my taxes?

 

[DonMacGregor]

Quite a contrast to the TWO days it took on a AUL resale contract I purchased back in 2023:

AUL Closing

 

[mkatsy]

I just purchased and closed on an international contract. There were some concerns about changes made effective 9/30/25 to submitting paper checks for FRPTA. We closed after the 9/30 change, but my title company assured me that they withheld from the proceeds and was able to submit payment for the taxes. It is my understanding that it is on me if those taxes are not paid. What do I ask for as proof that the payment was made? And is there any reporting that I need to do when I file my taxes?

The only “proof” would be the cancelled check, or the receipt from an electronic payment. In the future, you can ask for a credit at the closing and just pay it yourself so you know it’s done and the IRS won’t coming looking for it. Also, yes, the tax responsibility has shifted from the seller to the buyer.

 

[ShaneDJ]

Also, yes, the tax responsibility has shifted from the seller to the buyer.

Where is that documented?
Thanks.

 

[Birdie4]

The only “proof” would be the cancelled check, or the receipt from an electronic payment. In the future, you can ask for a credit at the closing and just pay it yourself so you know it’s done and the IRS won’t coming looking for it. Also, yes, the tax responsibility has shifted from the seller to the buyer.

I had the EFTPS account opened to pay it myself, but they didn't want to do that.

 

[mkatsy]

Where is that documented?
Thanks.

There was an EO March 25, 2025 - which became effective 9/30/25

 

[mkatsy]

I had the EFTPS account opened to pay it myself, but they didn't want to do that.

Technically, you are supposed to be able to request a transcript from the IRS and you should see the tax paid listed there. However, I have no experience with that so I wouldn’t know where to begin with that if the government was open. Actually I just went back and read the FIRPTA EO and all payments must now be electronically submitted, no paper checks will be accepted. That’s excellent, just ask the title company for the receipt. Easy breezy!

 

[ShaneDJ]

There was an EO March 25, 2025 - which became effective 9/30/25

Requirements for FIRPTA Payments Changing on September 30, 2025:
https://www.stewart.com/en/insights/requirements-for-firpta-payments-changing

====
How FIRPTA Payment Changes Affect Buyers

Buyers must be registered with EFTPS in advance of closing.

====
How FIRPTA Payment Changes Affect Foreign Sellers

Foreign sellers still receive credit for the taxes which are withheld, but only if the buyer submits the payment properly and in a timely manner.

====
Next Steps to Prepare for the FIRPTA Payment Changes

First, register for EFTPS as soon as possible if you anticipate involvement in a transaction involving a foreign seller where the payment will need to be made after September 30, 2025.

The IRS’s move to mandate electronic payment via EFTPS for FIRPTA withholding represents a significant procedural shift. While intended to streamline federal tax payments, it places new burdens on buyers...
====

So...sounds like buying resale DVC contracts from international sellers is now more difficult?