International Sellers - International Buyers

Cjessop

Earning My Ears
Joined
Aug 25, 2020
Hi,
I understand the with international sellers that will require some additional paperwork and costs. However is this is the case is the buyer is also international too?
Thanks
 
Hi Cjessop,
I'm not sure about this one. We have bought in directly at DVC in 2019 and there was no additional paperwork needed for that. However, a couple of months later DVC sent us a W8BEN form, so I would expect that you would receive one from DVC if you are a new owner. But it would not influence the process of buying into DVC. I think you should ask the resale company to clarify this, but my bet is that as an international buyer there is no additional paperwork and are no additional costs. FWIW, we are buying a resale contract right now (international buyer as well) and there is no additional paperwork that I can remember of.
 
I bought resale twice as an international buyer and I didn't do anything special, not even notarize the signature. The only additional expenses are international shipping costs to mail back the docs, the exchange fees and the fee to wire the money.
 
No additional costs if you are an international buyer. I understand if you are an international buyer buying from an international seller you need to get an ITN tax number or whatever they call it.
 
No additional costs if you are an international buyer. I understand if you are an international buyer buying from an international seller you need to get an ITN tax number or whatever they call it.

Yeah, when we were buying we avoided Intl Sellers as we didn't want to wait for the ITN Paperwork to be complete, potentially by someone inexperienced in the process from a Non-North America country.
 
I’m international and I have bought a contract from someone international too.

that required that both seller and buyer got an ITIN number. When I bought the contract I demanded that seller paid for that cost as it’s not free to get a FIRPTA agent to apply for it.

Other than that it was just as easy as buying from a US seller.
 
I needed an ITIN number to buy resale, but the US broker who was selling the contract arranged this for me at no cost. A couple of phone calls from a registered tax advisor in the US and I electronically signed and returned a couple of forms by email.
My ITIN number was posted to my home address in the UK. I received the ITIN before the contract was completed.
 
I’ll continue this thread. I am international and the seller on the contract i am looking at, is international. I have emailed the broker and the broker tells med that I do not need an ITIN number? Only the seller of the contract needs one. But according to this thread I need one?
I am a bit confused.
Should I e-mail another broker?
Skip it entirely, or just bid on the contract and hope for the best.
 
I’ll continue this thread. I am international and the seller on the contract i am looking at, is international. I have emailed the broker and the broker tells med that I do not need an ITIN number? Only the seller of the contract needs one. But according to this thread I need one?
I am a bit confused.
Should I e-mail another broker?
Skip it entirely, or just bid on the contract and hope for the best.

Im international too and have bought from an international. I was required to obtain an ITIN number.

I believe it’s because that the FIRPTA tax is due.

The seller needs to pay it but the buyer is responsible for ensuring it’s paid. Without the ITIN numbers I assume that the IRS can’t identify who is who in this matter.
 
Alright, Thank you for your answer. I think I will email the broker again insisting that they check again. Thanks again. 😃
I would do that too. If the broker insists then I would walk.

Only time you don’t need the ITIN number is when you buy from a US citizen.
 
I would do that too. If the broker insists then I would walk.

Only time you don’t need the ITIN number is when you buy from a US citizen.

so since this my first contract, do you think it’s worth the extra hassle or should I wait for a contract with a US seller?
 
so since this my first contract, do you think it’s worth the extra hassle or should I wait for a contract with a US seller?
If the contract is what you want price wise, points wise etc I would go for it.

it’s only a bit more hassle as the title company will withhold the firpta tax and ensure it will get paid.

Also I would ask or more demand that the seller pays your costs to get an ITIN number. You need to fill out some papers but that’s it.

otherwise there will be some more waiting for papers to return as most sellers tend to think that they need to go to a US embassy to get the docs notarized, unfortunately that’s not true.
 
I am international and have bought twice, once from US seller and once from an international seller. You do need an ITIN though, it ensures that the sale goes through quickly.
If you not happy with the broker I would walk, there are plenty of similar contracts for sale just now, I'm sure you will find another at the same points/price.
 
I know a UK buyer who was advised he didnt need an RTN fairly recently to buy from an international seller.
I thought at the time, I’m sure this is not correct.
Don‘t know what happened, but it’s worrying if brokers are habitually giving the wrong advice- if it is the wrong advice.
 
If the contract is what you want price wise, points wise etc I would go for it.

it’s only a bit more hassle as the title company will withhold the firpta tax and ensure it will get paid.

Also I would ask or more demand that the seller pays your costs to get an ITIN number. You need to fill out some papers but that’s it.

otherwise there will be some more waiting for papers to return as most sellers tend to think that they need to go to a US embassy to get the docs notarized, unfortunately that’s not true.

which broker did you use when you bought a contract that needed ITIN?

it is a Little strange that the brokers Don’t know.
 
















GET A DISNEY VACATION QUOTE


Our Dreams Unlimited Travel Agents will assist you in booking the perfect Disney getaway, all at no extra cost to you. Get the most out of your vacation by letting us assist you with dining and park reservations, provide expert advice, answer any questions, and continuously search for discounts to ensure you get the best deal possible.

CLICK HERE




DIS Tiktok DIS Facebook DIS Twitter DIS youtube DIS Instagram DIS Pinterest

Top