Anyone ever buy a resale through GMAC?

[bangzoom6877]

Someone informed me that GMAC accepts credit cards as payment for DVC resale, but I would like to know more about them based on others' experiences. Anyone ever buy a resale from them? Is there any particular person at GMAC you would recommend dealing with? I would like to explore this further because our credit card earns us points which go toward the principal on our mortgage, which is why we prefer using it, plus it is a 0%. We are trying to save enough to put down 50% initially, then put the rest on the credit card and pay it off in a few months.

 

[disneynutz]

GMAC has an added fee, I don't remember what it is. Some say the fee helps cover CC sales, others say it's passed on to Disney because GMAC is the official DVC reseller.

 

[z28wiz]

I just closed an OKW contract with them, everything went smoothly. My ROFR was only in 5 days and i bid 67.5 per point. I just closed this past week. Yes they do take credit cards. And the administration fee is $195 but that can be talked down is from what i was reading on these boards and others.

 

[mgilmer]

I have a purchase pending with GMAC right now. I paid the $100 deposit with a credit card. I asked if I could pay the balance of the purchase with plastic and they told me I could pay the $195 GMAC fee with it but the closing costs and the remainder of the purchase price would have to be paid by cashier's check or wire transfer.

 

[nunzia]

I just closed an OKW contract with them, everything went smoothly. My ROFR was only in 5 days and i bid 67.5 per point. I just closed this past week. Yes they do take credit cards. And the administration fee is $195 but that can be talked down is from what i was reading on these boards and others.

Really? I didn't try and also didn't get a break on any fees from the seller. But..all went smoothly. I didn't know you could put this on a Credit card and I don't hink it was offered as form of payment. Seems they wanted a bank check, which I did.

 

[z28wiz]

I actually paid by personal check by mistake. Put in the fedex envelope and they accepted it, just held it for a week.

 

[jekjones1558]

I bought one of my resales from GMAC and I worked with Rachel and Jackie. I had great service. They responded immediately to e-mails and calls. I have read some complaints on these boards about some other agent at GMAC but my experience was fine.
All monetary parts of the deal are negotiable with the seller. I don't think that the whole thing can be put on a credit card, but maybe that has changed since I bought a year or so ago.

 

[MikeyNS]

Just finished my paperwork with GMAC. I paid with my VISA. They mentioned they could accept CC payments for up to $4,000.. went slower than I had hoped, but then again I'm in no rush. Again I didn't really pay attention to the fees as it was a small BWV contract I wanted and a few hundred wasn't going to kill the deal.

 

[Laxmom]

GMAC here also without a hitch. Buying resale takes a bit of patience and it is a slow process. Keep posting and asking questions so you will know what to expect at each step. It will help you keep your sanity!!

 

[Mamiamjo]

I just bought a contract through GMAC. I closed Monday and my points are in my account today
Rachel was the agent that helped me and I have nothing but praise for the service and responsiveness I received. I was kept informed of the progress of the transaction throughout. Yes they do charge a $195 fee, but the lower sale price more than made up for the extra fee.

I have also purchased through TTS and had no problems with them either but this time, GMAC had the number of points I was looking for and the price was right.

I would recommend Robert at TTS and Rachel at GMAC to anyone buying DVC resales.

 

[goofysully]

smooth sale with gmac refused to pay the 195 no problem, closing costs picked up by seller, thought you could only use cc for escrow deposit, also used tts very smooth.

 

[Weluvdisny]

I didn't know the $195 was negotiable. I work at a bank and work up closing cost figures for mortgages. Nothing is negotiable. I'm kind of irate that some people get this waived just by asking while most of us just assume this is a fee that everyone is charged.

 

[Laxmom]

I think what others mean is that you can negotiate the seller to pay that fee not that the fee is negotiable.

That isn't GMAC's fault. As a representative of the seller, like the listing agent in any real estate sale, they are required to present and deliver that request. Out of curiousity, what was her response? Were the contracts signed? I have heard some incredible stories about dealings with sellers!

 

[Weluvdisny]

I think what others mean is that you can negotiate the seller to pay that fee not that the fee is negotiable.

That isn't GMAC's fault. As a representative of the seller, like the listing agent in any real estate sale, they are required to present and deliver that request. Out of curiousity, what was her response? Were the contracts signed? I have heard some incredible stories about dealings with sellers!

Well that makes more sense and I did get the seller to pay half of the fee. Thanks for the clarification!

 

[trasor]

I just closed Wed. with GMAC and would never use them again. I was supposed to close on 7/27. Rachel was my rep and while she was very nice, I feel like I had to follow up and push on every little thing to get it done. I had to keep calling because phone calls were not returned. None of my delays were due to the seller. If you use them, just be prepared to follow up, repeatedly.

 

[swhall]

I had no problems with GMAC, worked with Jackie and Rachel.
I agree with another poster, I don't think the $195 adm fee is negotiable...what is negotiable is who pays it buyer vs seller. The seller paid all closing costs, adm fee and maint fees for contract I purchased. I would not hesitate to purchase from them again if the contract I wanted was listed with them.
Good Luck with your decision. Resale is a longer process that required patience on my part.

 

[dvcnewgirl]

I just canceled a contract yesterday that was supposed to close on 7/27.

 

[cutakenta]

Three emails to them without a return. No way will I use them now.

 

[Mamiamjo]

Three emails to them without a return. No way will I use them now.

I had just the opposite experience. Rachel was pretty quick to return my emails. Usually w/in a few hours, sometimes not until the next day when I left the message late in the afternoon.

 

[jekjones1558]

Wow. I also had REALLY fast e-mail response from Rachel.