Listing Agreement

What to Expect: Final closing documents will require the services of a notary. This might require a fee in your country anywhere from $50 to $300. Once you have a sale in place, we suggest being pro-active and planning your visit to the notary well in advance as final closing documents are time-sensitive. You may also inquire with the Title Company/Escrow Agent to see if you qualify for remote-online notary (fees may apply).

Foreign Investment in Real Property Tax Act (“FIRPTA”): As a Non-U.S. Citizen selling U.S. property, you will be assessed a 15% "FIRPTA" withholding on the selling price at time of closing for taxes due on the sale of property by a non-U.S. Citizen.

You can elect to relinquish the funds, apply for a reduction, or file with the U.S. Government to receive a refund as the tax is due ultimately only on the profit. (Filing fees apply).

The amount that must be withheld can be adjusted pursuant to a withholding certificate issued by the IRS and you may apply for a withholding certificate prior to the transfer date. Please note that the process for a withholding certificate is currently taking 18-24 months. 

Filing paperwork for a FIRPTA refund, exemption or reduction requires a U.S. Tax ID (ITIN). The application may require a visit to a U.S. Embassy or consulate, and/or the mailing of passports to verify your identity and foreign status.

It is advised to seek counsel from a qualified tax person regarding your rights, obligations, reporting and withholding requirements pursuant to FIRPTA. Garden Views Realty, Inc and its associates cannot provide tax advice.

This Exclusive Right of Sale Listing Agreement ("Agreement") is between “Seller" and Garden Views Realty, Inc. d/b/a Vacation Club Life ("Broker").

1. Authority to Sell Property: Seller gives Broker the EXCLUSIVE RIGHT TO SELL the real property (“Property") described above, at the price and terms described above for a term of 90 days from signature date ("Termination Date"). This agreement can be canceled or renewed in writing by either party. Upon full execution of a contract for sale and purchase of the Property, all rights and obligations of this Agreement will automatically extend through the date of the actual closing of the sales contract. Seller and Broker acknowledge that this Agreement does not guarantee a sale.
2. Broker Obligations: Broker agrees to make diligent and continued efforts to sell the Property until a sales contract is pending on the Property.
3. Broker Authority: Seller authorizes Broker to: Advertise the Property as Broker deems advisable, Obtain information relating to any present mortgage(s) on the Property, Provide objective comparative market analysis information to potential buyers, Act as a transaction broker.
4. Seller Obligations: In consideration of Broker's obligations, Seller agrees to: Cooperate with Broker in carrying out the purpose of this Agreement, including referring immediately to Broker all inquiries regarding the Property's transfer, whether by purchase or any other means of transfer, Provide complete and accurate information regarding the Property and hold the Broker and its associates harmless against any misrepresentations made by you, Inform Broker before using points, mortgaging or otherwise encumbering the Property, Inform Broker if the property is no longer available for sale, Consult appropriate professionals for related legal, tax, foreign reporting requirements, and other specialized advice.
5. Disney Vacation Club: All contracts are subject to Disney’s Right of First Refusal. Seller will be responsible for Disney’s $150.00 estoppel fee, paid at closing. All Liens, Mortgages, Maintenance Fees, and late fees owed shall be subtracted from Seller’s Net Price after commission.
6. Compensation: Seller will compensate Broker as specified below for procuring a buyer who is ready, willing, and able to purchase the Property on the terms of this Agreement or on any other terms acceptable to Seller. Seller will pay Broker as follows: 8.5% of the purchase price, paid at closing. Broker's fee is due in the following circumstances: (1) If any interest in the Property is transferred by sale, regardless of whether the buyer is secured by Seller, Broker, or any other person during this listing agreement period. (2) If Seller defaults on an executed sales contract, or agrees with a buyer to cancel an executed sales contract. No fee will be due Broker if the Property is re-listed after Termination Date and sold through another broker.
7. Cooperation with and Compensation to Other Brokers: For properties located in California, Hawaii, and South Carolina, Garden Views Realty, Inc has a co-operating agreement with a local broker who may receive part of the commission from the sale.
8. Conditional Termination: If Seller requests to terminate this agreement or sells the Property elsewhere, Seller must inform Broker in writing, and pay a cancellation fee of $300.00 for marketing and advertising the Property.
9. All proceeds from the sale of the property will be disbursed to Seller by the escrow company at closing after the payment of any seller paid fees and the commission described above.
10. Miscellaneous: This Agreement is the entire agreement between Seller and Broker. No prior or present agreements or representations will be binding on Seller or Broker unless included in this Agreement. Electronic signatures are acceptable and will be binding. Signatures, initials, and modifications communicated by facsimile will be considered as originals.
11. Any dispute under this agreement shall have venue in the courts of Orange County, Florida.
12. There are no judgments or pending litigation against the broker resulting from or alleging a violation by the broker of Chapters 475, 498, 718 or 721, F.S., or resulting from or alleging consumer fraud on the part of the broker.

THERE IS NO GUARANTEE THAT YOUR TIME-SHARE PERIOD CAN BE SOLD AT ANY PARTICULAR PRICE OR WITHIN ANY PARTICULAR PERIOD OF TIME.