ResalesDVC Listing Terms and Conditions
Last Modified: 11.01.21
Acceptance of the ResalesDVC Listing Terms and Conditions
These terms and conditions are entered into by and between You and Garden Views Realty, Inc. DBA ResalesDVC (”Company,” “we,” or “us”).
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Listing Terms and Conditions
There are NO up-front fees to list. An 8.5% commission, paid at closing, is deducted from the purchase price along with Disney’s $150 estoppel fee. This agreement is an “Exclusive Listing” with Garden Views Realty, Inc. d/b/a “ResalesDVC” hereinafter referred to as GVR. This agreement will be for a term of 90 days from signature date and can be canceled or renewed in writing by either party. If seller cancels this agreement within 90 days, seller agrees to reimburse GVR for marketing and administration costs in the amount of $250. When a ready, willing and able buyer is found at an agreed upon selling price, you will affix your signature to the contract and a commission is earned.
It is the responsibility of the seller to tell GVR if the property is no longer available for sale. We rely on your information to be complete and accurate. You, the seller, shall hold GVR and its associates harmless against any misrepresentations made by you. Title shall be conveyed free and clear to the buyer and any mortgages and monies owed to your resort will be satisfied from the proceeds of the sale.
GVR acts as a Transaction Broker for both buyer and seller. There are no judgments, reports of fraud, or pending litigation against the broker from allegations or violations of any Florida Statutes.THERE IS NO GUARANTEE THAT YOUR TIME-SHARE PERIOD CAN BE SOLD AT ANY PARTICULAR PRICE OR WITHIN ANY PARTICULAR PERIOD OF TIME.
Changes to the Terms and Conditions
Non-U.S. Citizens / “FIRPTA”
Final closing documents will require the services of a notary or solicitor. This might require a fee in your country anywhere from $50 to $300. We suggest planning your visit to the notary well in advance as final closing documents are time-sensitive.
Foreign Investment in Real Property Tax Act (“FIRPTA”):
Non-U.S. Citizens will be assessed a 15% “FIRPTA” withholding on the selling price at time of closing for taxes due on sale of property by a non-U.S. Citizen. As a foreign seller you must decide how you want to treat this requirement:
- Relinquish the 15% at closing with the option to apply for a refund directly with the IRS, acting as your own representative, in the following tax year.
- Apply for the exemption process via a qualified FIRPTA specialist. We recommend using Nancy Carpenter and her fees are apprx $450.
Nancy Carpenter, Foreign Investors Tax Services, LLC
ITIN Certified Acceptance Agent (CAA)
Email – firstname.lastname@example.org / Web address: fitaxes.com
During the closing process we will ask you which option you wish to use.
Aulani Sellers / “HARPTA”
Non-residents of Hawaii will be assessed a 7.25% “HARPTA” withholding on the selling price, at time of closing, for taxes due on sale of property by a non-resident of Hawaii. You may file with the Hawaii Department of Revenue to receive a refund as the tax is due ultimately only on the profit. As a non-resident seller of Hawaii property, you must decide how you want to treat this requirement:
- Apply for the exemption process as part of closing. The fees are apprx $250.
- Relinquish the 7.25% at closing with the option to apply for a refund directly with the state of Hawaii, acting as your own representative, in the following tax year.
During the closing process you will be asked if you are a resident of Hawaii and if NOT which option you choose to use.