Canadian DVC selling questions

[bababear_50]

Looking for some guidance /help.
Selling question
Hi Gang I am thinking of selling off one of my contracts.

I have a couple of questions here:

1).The contract I am thinking of selling off would be the first contract that I bought,,so my main one.
(It was a resale not direct).
Can I do this and still hold my other 3 add-ons?
Does this affect my membership?

2). Do I need to get a lawyer to sign off on this,,just wondering how to do this during Covid 19

3). Any recommendations on who to use? (broker).

4). I have a Oct reservation book and listed via David's DVC rental(yeah I know). So I would have to list it unable to close till that date right.

Thanks
Hugs
Mel



Thanks Mel

 

[Madame]

Looking for some guidance /help.
Selling question
Hi Gang I am thinking of selling off one of my contracts.

I have a couple of questions here:

1).The contract I am thinking of selling off would be the first contract that I bought,,so my main one.
(It was a resale not direct).
Can I do this and still hold my other 3 add-ons?
Does this affect my membership?

2). Do I need to get a lawyer to sign off on this,,just wondering how to do this during Covid 19

3). Any recommendations on who to use? (broker).

4). I have a Oct reservation book and listed via David's DVC rental(yeah I know). So I would have to list it unable to close till that date right.

Thanks
Hugs
Mel



Thanks Mel

Your member status would not be affected unless this was your only perk-qualifying contract.
No recommendations on who to use. One note, get your ITIN lined up BEFORE listing - no idea if those governmental agencies are backed up.

 

[bababear_50]

Your member status would not be affected unless this was your only perk-qualifying contract.
No recommendations on who to use. One note, get your ITIN lined up BEFORE listing - no idea if those governmental agencies are backed up.

Hi Hon
I have sold before and just refused the Tax withholding.
Just direct the closing company that you do not want any of the money held back (my gift to the US gov).,,to me it wasn't worth it.
Mind you this was for a small point contract.
Hugs
Mel

 

[Madame]

Hi Hon
I have sold before and just refused the Tax withholding.
Just direct the closing company that you do not want any of the money held back,,to me it wasn't worth it.
Mind you this was for a small point contract.
Hugs
Mel

Yes, if it’s a low amount it’s not worth IRS entanglement. I think you’re ok with any of the big brokers. We purchased twice with www.dvcresalemarket.com

 

[bababear_50]

Ahh Perks,,,,,no the 3 add-ons actually got me the Perks,,,not that I've ever used them for much of anything,, ok maybe a 10% to 20% discount on a meal here and there.
But as we know Perks come and go.


Hugs Mel

 

[bababear_50]

Ok another weird question here
Can points be transferred between contracts that you have under your own membership?

 

[Madame]

Ok another weird question here
Can points be transferred between contracts that you have under your own membership?

Yes, but only one transfer in OR out per contract per year.

 

[AdamsMum]

I have sold before and just refused the Tax withholding.
Just direct the closing company that you do not want any of the money held back (my gift to the US gov).,,to me it wasn't worth it.
Mind you this was for a small point contract.

My experience was the same, small contract also. I did have to get my paperwork notarized though. I received a letter about 3 months later from IRS stating that if I wanted to claim my withholding tax I could apply for an ITIN number and giving me instructions as to how to do so.

 

[bababear_50]

Ok
I decided to go with the Timeshare store.
https://www.dvcstore.com/
Posting just listed.
Wish me luck!
Hugs
Mel

 

[bababear_50]

Hiccup in the process....
I had to suspend the listing as
Disney is saying the expiry date is 2042 and I am saying that it is 2057.
I extended back in 2007/2008.
Now I have to prove it,,,,oh boy!
Hugs Mel

 

[Madame]

Hiccup in the process....
I had to suspend the listing as
Disney is saying the expiry date is 2042 and I am saying that it is 2057.
I extended back in 2007/2008.
Now I have to prove it,,,,oh boy!
Hugs Mel

Wow. Do you just have to screenshot the paperwork from the extension payment?

 

[bababear_50]

Wow. Do you just have to screenshot the paperwork from the extension payment?

Well because of Covid DVC admin is working by email only so I got a email saying we will be in touch within 5 days.
I have the OKW product understanding acknowledgement
Disney Old Key West Resort Extension.
I paid via phone via credit card.
09/19/07

Hugs
Mel

 

[Madame]

Well because of Covid DVC admin is working by email only so I got a email saying we will be in touch within 5 days.
I have the OKW product understanding acknowledgement
Disney Old Key West Resort Extension.
I paid via phone via credit card.
09/19/07

Hugs
Mel

Pretty incredible they don’t have it on file correctly, yesh

 

[bababear_50]

Pretty incredible they don’t have it on file correctly, yesh

Yeah
There seems to be something that might have happened to the original contract #number of the OKW contract that changed to a new # number when I did the extension.
Now we just wait for DVC Admin to get back to us.

Hugs Mel

 

[deedubb]

For those who have sold before, where do you get it notarized. I seem to recall you can't use a Canadian notary. Is that correct?

 

[Madame]

For those who have sold before, where do you get it notarized. I seem to recall you can't use a Canadian notary. Is that correct?

You can use a Canadian notary (in certain provs). It’s more complicated for owners who don’t reside in North America.

 

[Madame]

For those who have sold before, where do you get it notarized. I seem to recall you can't use a Canadian notary. Is that correct?

This is an old thread, but @bababear_50 could probably help if you’re in ON.
https://www.disboards.com/threads/notary-dvc-documents.2848904/

 

[bababear_50]

For those who have sold before, where do you get it notarized. I seem to recall you can't use a Canadian notary. Is that correct?

Hi Hon
I am in the GTA
Last sale I went to a place I found online
https://www.google.com/search?q=mis...69i57j0l7.10011j1j15&sourceid=chrome&ie=UTF-8
I will be puting a call into my lawyers office and asking if there is anyone there that can run out to the Parking lot and do this.
If not I think my credit union can do this.

I've not tried this but it seems UPS might offer this service.
https://www.theupsstore.com/store-services/notary-services

OK I found another drive -thru place
https://publicnotarymississauga.com/I had no issue using a Canadian Notary.

Hugs
Mel

 

[deedubb]

This is an old thread, but @bababear_50 could probably help if you’re in ON.
https://www.disboards.com/threads/notary-dvc-documents.2848904/

That's great. I am in ON. Thanks.

Hi Hon
I am in the GTA
Last sale I went to a place I found online
https://www.google.com/search?q=mis...69i57j0l7.10011j1j15&sourceid=chrome&ie=UTF-8
I will be puting a call into my lawyers office and asking if there is anyone there that can run out to the Parking lot and do this.
If not I think my credit union can do this.

I've not tried this but it seems UPS might offer this service.
https://www.theupsstore.com/store-services/notary-services

OK I found another drive -thru place
https://publicnotarymississauga.com/I had no issue using a Canadian Notary.

Hugs
Mel

Awesome, thanks. Not selling right now (in fact, just bought my 4th contract and just passed ROFR), but whether I buy any more will depend on how difficult it is when it comes time to sell. Not having to go to a US embassy to notarize makes it a LOT easier!

 

[bababear_50]

My update
I sold a small OKW contract ,,just waiting for ROFR
What is the right of first refusal? A right of first refusal (ROFR) allows Disney Vacation Club to become the buyer of your Membership on the same terms and conditions, including financing, as specified in your contract for sale. I made a few dollars which will just get added to the retirement plan.

It seems Disney is not exercising this right now (or very limited) so the contract should go through.
The broker did say that due to our current times the whole process seems to be taking longer. I'm not in any rush right now so that's ok.

I thought I'd be sad selling the contract but I'm actually relieved ,,not much chance in me traveling back to Disney in the next 2-3 years.
Thru great ideas here on the DIS Canadian boards (Disney visa gift cards) I've paid out my dues for the next 2 years. I still have 3 small point contracts that I'll hold on to.


Hugs
Mel