International seller

[Jools7667]

We're UK based and are hoping to offer on a resale contract, the seller is also UK based. Are there any complications we should be aware of with the purchase process?
Thank you

 

[JackosinDIS]

Yes, you will need an ITIN number in order to progress unless the seller is not applying for a withholding certificate.

 

[Jools7667]

Real estate agent has mentioned both seller and buyer need a US notarizer

 

[Cyberc1978]

Real estate agent has mentioned both seller and buyer need a US notarizer

That’s not correct.

Only sellers will need someone to notarize it(not necessarily a U.S one)

Don’t know if you are buying Aulani.

Where are you looking to buy?

 

[Jools7667]

That’s not correct.

Only sellers will need someone to notarize it(not necessarily a U.S one)

Don’t know if you are buying Aulani.

Where are you looking to buy?

Not Aulani

 

[Cyberc1978]

Not Aulani

Then you as a buyer don’t need to notarize anything.

IIRC only buyers at HI and buyers who take out a mortgage need to use someone to notarize it.

 

[sndral]

Real estate agent has mentioned both seller and buyer need a US notarizer

AFAIK the only time the buyer needs to notarize documents is if they are borrowing money to buy & securing the loan w/ a mortgage. The one time several years ago I bought from a UK seller they were able to get their documents notarized very quickly, the Queen’s mail, which they opted to use rather than FedEx, OTOH, took forever to arrive in the U.S..

 

[Jools7667]

Then you as a buyer don’t need to notarize anything.

IIRC only buyers at HI and buyers who take out a mortgage need to use someone to notarize it.

Great thank you

 

[JackosinDIS]

They may be talking about the fact that you need to see a U.S. notary in order to get your ITIN number. This involves a visit to the US embassy here in the UK, or alternatively finding an agent who can deal with the application for the tax number. It is not straight forward.

You always need an ITIN if you do not have a social security number, which I presume you do not.

 

[JackosinDIS]

P.s. if you do need help with this I can point you in the direction of UK based agents that will help with the ITIN application.

 

[Thyr77]

They may be talking about the fact that you need to see a U.S. notary in order to get your ITIN number. This involves a visit to the US embassy here in the UK, or alternatively finding an agent who can deal with the application for the tax number. It is not straight forward.

You always need an ITIN if you do not have a social security number, which I presume you do not.

Would all foreign buyers need an ITIN if they don't have an SSN?

 

[CVG]

They may be talking about the fact that you need to see a U.S. notary in order to get your ITIN number. This involves a visit to the US embassy here in the UK, or alternatively finding an agent who can deal with the application for the tax number. It is not straight forward.

You always need an ITIN if you do not have a social security number, which I presume you do not.

Apparently you do not need an ITIN (according to board sponsor). What's your take?

 

[JackosinDIS]

Apparently you do not need an ITIN (according to board sponsor). What's your take?

You need an ITIN if the Seller is a non-U.S. Seller. This is unless the seller does not intend to apply for a refund of the tax that foreign sellers have to pay (UK sellers get hit with an automatic 15% withholding tax when we sell).

The OP says that the seller is also from the UK, so I suspect they will want to claim the withholding tax back. As such the buyer will also need an ITIN number.

 

[JackosinDIS]

Would all foreign buyers need an ITIN if they don't have an SSN?

No, you don’t need an ITIN is the Seller is US based.

 

[Jools7667]

Thanks everyone, we decided to go with it and had our offer accepted. We've requested DVC titles and escrow so hopefully they’ll guide us through it!

 

[Genie+]

Good luck! Here’s to a smooth process bink

What resort did you choose if you don’t mind sharing?

 

[Cyberc1978]

They may be talking about the fact that you need to see a U.S. notary in order to get your ITIN number. This involves a visit to the US embassy here in the UK, or alternatively finding an agent who can deal with the application for the tax number. It is not straight forward.

You always need an ITIN if you do not have a social security number, which I presume you do not.

You don't need to go to any notary to get an ITIN, I sure didn't

 

[JackosinDIS]

You don't need to go to any notary to get an ITIN, I sure didn't

I think you can avoid it if you send original documentation to the IRS, but I did not fancy posting my passport to them! So having to get the application and ID documents certified.

 

[Ruttangel]

Thanks everyone, we decided to go with it and had our offer accepted. We've requested DVC titles and escrow so hopefully they’ll guide us through it!

I’m using them right now to sell they even have a free virtual notary which will save you £100 or so, reach out to me if you have any issues

 

[Jools7667]

I’m using them right now to sell they even have a free virtual notary which will save you £100 or so, reach out to me if you have any issues

Great thank you, they seem well recommended on here which is why we chose them.