Help for resale from UK owner

[julie-h]

Hi
I am thinking of selling my DVC membership points, first timer so please be kind.
I have no idea of the process involved with this or my tax obligations etc.
I have seen some listings so have an idea how much my points would sell for but don’t really understand how it works with regard to fees etc.
It seems that the broker charges around 9.5% - is that of the total sales fee (seems exorbitant compared with UK estate agent charges). Also that 15% of the sales value is held back for tax but I MIGHT be able to reclaim that - need to use a specialist to do this for me - any ideas on cost? Also would need to get a US tax reference to reclaim does the specialist do this or something I need to do myself?
Finally I assume I would have to pay capital gains tax in the UK on any gain I’ve made on my original purchase price - I bought about 15/16 years ago and have no idea of the price paid (although I might be able to find the documents) and probably more importantly what the exchange rate would have been at that stage so I know what I paid in £££.
It’s all a bit of a minefield to be honest, I don’t understand the US terminology for the sale so if anyone kind sole who has done this from the UK is able to explain step by step for me that would be great, just trying to work out if it’s all worthwhile
Thank you

 

[Sandisw]

Thank you not sharing what you will be selling. My advice is to reach out to a resale broker like the board sponsor, Www.dvcresalemarket.com.

They can probably help you a great deal!

 

[Chili327]

Thank you not sharing what you will be selling. My advice is to reach out to a resale broker like the board sponsor, Www.dvcresalemarket.com.

They can probably help you a great deal!

Yep, and you don’t have to list it with them to get info. Most any of the big brokers I’m sure would be glad to answer any questions. Just email them exactly the questions you asked here.

 

[AstroBlasters]

Hi
I am thinking of selling my DVC membership points, first timer so please be kind.
I have no idea of the process involved with this or my tax obligations etc.
I have seen some listings so have an idea how much my points would sell for but don’t really understand how it works with regard to fees etc.
It seems that the broker charges around 9.5% - is that of the total sales fee (seems exorbitant compared with UK estate agent charges). Also that 15% of the sales value is held back for tax but I MIGHT be able to reclaim that - need to use a specialist to do this for me - any ideas on cost? Also would need to get a US tax reference to reclaim does the specialist do this or something I need to do myself?
Finally I assume I would have to pay capital gains tax in the UK on any gain I’ve made on my original purchase price - I bought about 15/16 years ago and have no idea of the price paid (although I might be able to find the documents) and probably more importantly what the exchange rate would have been at that stage so I know what I paid in £££.
It’s all a bit of a minefield to be honest, I don’t understand the US terminology for the sale so if anyone kind sole who has done this from the UK is able to explain step by step for me that would be great, just trying to work out if it’s all worthwhile
Thank you

Kerri L MacPherson
Sales Associate
617-877-2148
kerri@dvcresalemarket.com
dvcresalemarket.com

 

[JackosinDIS]

Hi
I’m also a UK owner. You have the basics right, so as others have recommended, just get the process going with a knowledgable broker. Yes, the commission is high but not much we can do about that!
One tip, if you don’t already have an ITIN number (the tax number you will need in order to reclaim the 15% withholding tax), you can make a start on that separately now…. It takes around 6-8 weeks. It you want details of a good UK agent that that help with that feel free to PM me and I can give you the contact.

 

[julie-h]

Hi
I’m also a UK owner. You have the basics right, so as others have recommended, just get the process going with a knowledgable broker. Yes, the commission is high but not much we can do about that!
One tip, if you don’t already have an ITIN number (the tax number you will need in order to reclaim the 15% withholding tax), you can make a start on that separately now…. It takes around 6-8 weeks. It you want details of a good UK agent that that help with that feel free to PM me and I can give you the contact.

I can’t quite work out how I can PM you, could you message me and I’ll reply please

 

[JackosinDIS]

I can’t quite work out how I can PM you, could you message me and I’ll reply please

You need more posts before I can message you… I think it’s 10 posts…

 

[julie-h]

You need more posts before I can message you… I think it’s 10 posts…

So can I message you yet? If so how do I do it?

 

[JackosinDIS]

So can I message you yet? If so how do I do it?

You need to do more posts on the Disboards…. You have only done 9 messages so far. Post a few more on other threads and you should be able to message me tomorrow by simply clicking on my name. There will be an option ‘send direct message’ once you are eligible.