Buying Boardwalk from an international seller

[Tom Hafner]

Hello all,

Has anyone purchased DVC recently from an international seller? Our offer for a BWV contract has been accepted by an int seller and is now in ROFR. I have seen DVC Fan vids about Disney not buying back contracts from int sellers but wanted to know if anyone’s past experiences with this is positive. So excited but don’t want to get my hopes up too much. Thanks all!

 

[RoseGold]

Usually, the title company handles the IRS stuff, and it's no big deal. The seller should absolutely be the one paying for that cost in your contract. The causes a little delay.

But there are some IRS-related horror stories:
https://www.disboards.com/threads/buying-from-international-seller.3674706/post-59041612

That was enough to stop me from buying internationally.

 

[Spinster Travel]

Definitely prepare yourself for there to be some additional time for closing. International sellers can have issues finding a notary etc., but there are many who get super excited for an International Seller just knowing that ROFR is super likely to pass. I love the boardwalk - good luck!

 

[Tom Hafner]

Thanks for the replies, so I was under the impression that Disney had to pay the FIRPTA tax if they ROFR it not the seller, that’s why Disney passes on these contracts. Don’t understand them why Disney would treat these contracts differently then, have to read up on this.

 

[Bing Showei]

Usually, the title company handles the IRS stuff, and it's no big deal. The seller should absolutely be the one paying for that cost in your contract. The causes a little delay.

But there are some IRS-related horror stories:
https://www.disboards.com/threads/buying-from-international-seller.3674706/post-59041612

That was enough to stop me from buying internationally.

Fun aside, just a few months after I posted the above referenced link, I became a horror story myself.

TL;DR: IRS hit me with a FIRPTA tax bill and threatened to put a lien on my property despite my international sellers, title company, and buyer filling out all the paperwork correctly. **** happens. It doesn’t happen to most buyers, but that’s not to say it doesn’t happen at all.

 

[Chanes96]

did you get it sorted out bing?

 

[heynowirv]

We bought from Canadians twice. The first was a 150 point BWV contract and it was a delayed closing because she had a Ressie on it.O/W it was as smooth as can be.
The 2nd was a 75 point OKW and they were just S-L-O-W to get any paperwork done or signed. I believe we waited over 2 weeks for the notary to get done.
O/W no problems with the contract, and yes the FIRPTA is the responsibility of the seller.
Good Luck!