GMAC anyone?

[anbouk]

I just received my contract from GMAC. Reading thru it gives me a choice on whether I want to do a complete title search (extra approx $200 fee) vs simple (nothing thorough). Has anyone else closed thru them? What have you decided to do or suggest? Has anyone NOT done a thorough and jeopardized their title?

 

[bookwormde]

Most settlement companies include title insurance in there closing fees. GMAC has a lot higher total settlement fees so some buyers have the seller pay for all closing costs (including title insurance) beyond the standard level ($400-500).

I would not pay extra for title insurance for a DVC, but I understand the risks, which are minimal if a proper title search has been done in the home county of the timeshare and the fact that a Disney subsidiary is the management company. You have to do what is comfortable for you.

bookwormde

 

[bobbiwoz]

Can you please mention how you first contaced GMAC? Do you have to go to the website and give all of the required information just to find out what they have for sale? I hesitate to give the information because I am not 100%sure that we will be buying more points, and I don't want to be contacted by phone.

Bobbi

 

[henri + katie's mum]

Can you please mention how you first contaced GMAC? Do you have to go to the website and give all of the required information just to find out what they have for sale? I hesitate to give the information because I am not 100%sure that we will be buying more points, and I don't want to be contacted by phone.

I bought from GMAC last year and I just gave them my e-mail and name. I didn't give them any personal info until I bought. I worked with Rachel (I think) and she was very good about e-mail replies. Just click on the link and give what you want them to know in the comments section. (The website has very little info recently. They used to give more. I don't know if they are re-vamping or what, but it's a very lack luster display and I think they need to do things better!)

I just received my contract from GMAC. Reading thru it gives me a choice on whether I want to do a complete title search (extra approx $200 fee) vs simple (nothing thorough). Has anyone else closed thru them? What have you decided to do or suggest? Has anyone NOT done a thorough and jeopardized their title?

Unfortunately I don't remember what I did about this. I wonder if it was an option. Sorry.

 

[bobbiwoz]

Thanks, will do what you suggest!

Bobbi

 

[nunzia]

I also was surprised by the title search ting since it wasn't mentioned in the original costs which I thought was a little sneaky. I did, however, pay it. I had no luck trying to negotiate with the seller, and paid everything.

 

[jekjones1558]

Hey, Bobbi,
I also worked with Rachel and she was great (I have heard complaints about some other GMAC agents). She was not at all pushy and was great at getting right back to me when I contacted her. I found that GMAC seemed to have a huge inventory of contracts (including many not listed online). This was the link I used:
http://www.internationalgmac.com/hotdeals.jsp
Good luck!

 

[bobbiwoz]

Thanks for the link, Jean! I see that your trip is truly coming up soon!!! That's great!
Bobbi

 

[Grandbuddy]

You will need to talk by phone with a GMAC agent (I recommend Rachel) and give her/him an idea of what your ideal contract will be. They do not post a listing with all their contracts, and sometimes you have to be persistent in your calls and your e-mails. Some folks get offended if they don't get a call-back or immediate return on their e-mail. Sometimes the GMAC agents are really busy, but Rachel was very good about getting back to me.

Maybe the call-back didn't come as early as some folks would prefer, but I saved thousands on my 2nd contract, going through GMAC, even with the $195 administrative fee.

 

[mgilmer]

You will need to talk by phone with a GMAC agent (I recommend Rachel) and give her/him an idea of what your ideal contract will be. They do not post a listing with all their contracts, and sometimes you have to be persistent in your calls and your e-mails. Some folks get offended if they don't get a call-back or immediate return on their e-mail. Sometimes the GMAC agents are really busy, but Rachel was very good about getting back to me.

Maybe the call-back didn't come as early as some folks would prefer, but I saved thousands on my 2nd contract, going through GMAC, even with the $195 administrative fee.

We also bought our first interest at the BCV from Rachel. She was very attentive and responded quickly to all our questions. I recommend her highly. I only had to call her once to tell her what we were looking for and she found a contract that met our specs within a week and we were closed and members within 6 weeks total.

 

[Buckeye Fan]

I just received my contract from GMAC. Reading thru it gives me a choice on whether I want to do a complete title search (extra approx $200 fee) vs simple (nothing thorough). Has anyone else closed thru them? What have you decided to do or suggest? Has anyone NOT done a thorough and jeopardized their title?

Yes, we have closed 3 times with GMAC. I was always told to choose the complete title search. It is already built in to the fees paid for by the seller, and it ensures that everything is in order. That was 2 separate people's advice to us as buyers.

Hope that helps, or you got your answer from GMAC!