ROFR Thread April to June 2019 *PLEASE SEE FIRST POST FOR INSTRUCTIONS & FORMATTING TOOL*

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Finally set free... Taken Day 49

mrsap---$96-$19200-200-SSR-Oct-0/18, 0/19, 200/20-Seller pays closing- sent 2/28, taken 4/19

As an FYI, seller paying close and Disney takes it means Disney will use their title company and take a bit more from the seller... So I'm thinking that's not a great strategy to sneak under the wire.
 
As an FYI, seller paying close and Disney takes it means Disney will use their title company and take a bit more from the seller... So I'm thinking that's not a great strategy to sneak under the wire.

I don’t think they can change the title/closing company. They have to use the one specific in the contract.
 
I could be wrong but I was advised by a reputable broker that if both buyer and seller were international both were required to have an ITIN number due to FIRPTA even though the seller should pay it. I guess this is because the buyer is liable if the seller fails to pay it.

I’d be interested to know if this is incorrect as we’ve held back from international sellers based on this.
Yes. This is correct. If both are international, they both need an ITIN number.
 
I could be wrong but I was advised by a reputable broker that if both buyer and seller were international both were required to have an ITIN number due to FIRPTA even though the seller should pay it. I guess this is because the buyer is liable if the seller fails to pay it.

I’d be interested to know if this is incorrect as we’ve held back from international sellers based on this.

You might be right and in that case I assume that the closing/title company apply for that on my behalf.
 


As an FYI, seller paying close and Disney takes it means Disney will use their title company and take a bit more from the seller... So I'm thinking that's not a great strategy to sneak under the wire.

The Title company chosen has been doing the work and is part of the contract to get paid. DVC cannot change the contract and cut them out.
 
You might be right and in that case I assume that the closing/title company apply for that on my behalf.
No. You need to do it yourself. This is the only reason I passed on a contract with an international seller as an international buyer. I actually had to inform the resaler that I would also need an ITIN number as a buyer if the seller was also international.

The US gov needs a SSN for the buyer if the seller is international. If the buyer is also international the SSN is replaced by an ITIN. I didn’t mind getting one when ready to sell, but the fact I knew more about it than the broker made me back out. Too much hassle.
 


To be on the safe side I’ve mailed my closing agent. Once I get an answer I post a new reply.

No. You need to do it yourself. This is the only reason I passed on a contract with an international seller as an international buyer. I actually had to inform the resaler that I would also need an ITIN number as a buyer if the seller was also international.

The US gov needs a SSN for the buyer if the seller is international. If the buyer is also international the SSN is replaced by an ITIN. I didn’t mind getting one when ready to sell, but the fact I knew more about it than the broker made me back out. Too much hassle.


We were interested in an international seller listing...We are International Buyers. Resales DVC was fantastic and referred us to their tax specialist who would apply for the ITIN on our behalf for $25 and an apx 4 week wait. We spoke directly with the tax specialist and she was great. Closing could happen even if the ITIN application wasn’t yet finalized. We ended up passing on the contract for other reasons but I would not hesitate to go through it again with a reputable company like Resales DVC.
 
We were interested in an international seller listing...We are International Buyers. Resales DVC was fantastic and referred us to their tax specialist who would apply for the ITIN on our behalf for $25 and an apx 4 week wait. We spoke directly with the tax specialist and she was great. Closing could happen even if the ITIN application wasn’t yet finalized. We ended up passing on the contract for other reasons but I would not hesitate to go through it again with a reputable company liken Resales DVC.
Yes this broker did too, but it was still your responsibility to pay the tax specialist & make sure you got the number. Too many contracts for sale out there for me personally to jump through the hoops when it wasn’t necessary. YMMV.
 
If you don’t mind me asking, what country were the sellers located? Recently a broker told me Canada and UK sellers aren’t a big deal for Disney, since they have similar notary processes. I’m skeptical, but your experience could help validate his claim.

I have no clue, I passed about 3 weeks ago, but with fidelity, still haven't seen any documents for closing!!!! But I'm in no big hurry, points banked for 2018 and once we close, I'll more than likely be renting out 2018/2019 points to help offset purchase price or go on a cruise!! we already have 2019 vacations planned with our CCV contract.
 
No. You need to do it yourself. This is the only reason I passed on a contract with an international seller as an international buyer. I actually had to inform the resaler that I would also need an ITIN number as a buyer if the seller was also international.

The US gov needs a SSN for the buyer if the seller is international. If the buyer is also international the SSN is replaced by an ITIN. I didn’t mind getting one when ready to sell, but the fact I knew more about it than the broker made me back out. Too much hassle.

I don’t disagree with you it’s my responsibility, but as I have it in writing that the agent I taking full responsibility I’m good with that. In case anything goes wrong with the firpta tax the agent will sort it out. To be on the safe side I wrote to the agent asking for clarification.
 
I am an international buyer buying from an international seller, they told us that we need an ITTN number and apparently have some tax person working with them to obtain the numbers. However, I have emailed this person about what we need to do and have had no response for almost a week.

No one has mentioned anything about additional costs either. But if this process to obtain the number takes 4 weeks I'm getting concerned and would like to get the ball rolling.
 
I am an international buyer buying from an international seller, they told us that we need an ITTN number and apparently have some tax person working with them to obtain the numbers. However, I have emailed this person about what we need to do and have had no response for almost a week.

No one has mentioned anything about additional costs either. But if this process to obtain the number takes 4 weeks I'm getting concerned and would like to get the ball rolling.


I'd be patient on this. Since it is Easter weekend, In the US, most schools have off either the week before or the week after Easter so a lot of family are on vacation (and refuse to check their business e-mails). This only applies if you sent your email to an individual's email. If you sent it to a business box, where everyone there can see it then I have no answer for it.
 
RamblinWreck---$155-$16275-100-VGF-Apr-0/18, 34/19, 100/20- sent 4/19

Closing date on contract is listed as 5/20. There are provisions to extend that should paperwork not arrive in time to make that feasible.

It’s also an international seller.
I'm already getting nervous that this first test is going to be a bust.

When they first sent me the contract to sign on 4/18 and it had a closing date of 5/20 on it, I said that made me nervous because if there was even 2 days worth of hold up in getting the contract to Disney, we were going to be in violation of their ROFR rules. I was assured that they would definitely get it out to Disney the next day and that they wouldn't even wait for my deposit to clear first.

This morning (28 days until close) I got an email from someone else at the company saying "Your contract has just been submitted to Disney for their Right Of First Refusal review".

Not exactly instilling confidence...
 
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We have a couple of October Use Year contracts and recently purchased a Poly contract as our very guilty pleasure but in a different Use Year. Logged into our DVC account last night only to see it opened on the page of our new Membership number (apparently each Use Year requires a different Membership number) showing Poly. What a nice way to end the weekend.

We were told that we would not see our new Use Year's contract until we received in the mail some documentation, and hand to undertake a few steps online; nope, the new Use Year's Membership number was already there with the Poly contract. It was all done for us; nice. Sure, the points are not there yet......will take a couple of more days for them to appear, but that's fine.

With all the DVC bashing (including by myself) re the length of time to hear about the ROFR decision, I thought I'd post a nice thing about DVC.

Have a great week everyone. And may everyone have a little pixie dust on those ROFR decisions (including our ALK contract......now on day35 / 27 (depending who we speak to at DVC).
 
Robmac07---$101-$18080-160-AKV-Aug-0/17, 0/18, 226/19, 160/20- sent 4/2, passed 4/22

Long time reader of this thread, but first time poster. This was my first attempt at a DVC purchase and I was surprised it passed ROFR.

What was your closing date on your contract please. Thank you.
 
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