GMAC-Buyers Beware

[BWV Dreamin]

I have finally finished the process of purchasing a 50 pt. resale through GMAC. It has been a very awful, laborous process. I would never purchase through them again. Problems started from the git go with the agent, then on to their processing dept., and yes, even with their title company. Will never do business with them again. TimeShare Store rocks!!

 

[Gizmo1951]

I agree
The Timeshare store is the way to go
We did 2 resales with them and everything was great from start to finish!!

 

[diznyfanatic]

I'm sorry you had such a bad experience with GMAC. There have been several reports here on the DIS of people experiencing trouble with this company. Disney only refers people to this company because GMAC pays Disney to do so. When GMAC lists DVC properties as "Red Week", that should be the first giant red flag in using them, in my opinion.

I second the recommendation of using our sponsor here, The Timeshare Store. Our initial DVC purchase was made using Tom and his group and would use them again in a heartbeat.

 

[BWV Dreamin]

And they quote to be the only "official" Disney reseller. Well, they paid for that right. Don't be fooled....nothing "official" about them. Timeshare Store is hands down more professional, thorough, and has the best "customer service". I hope some that are looking to buy see this thread......

 

[bnlbebes]

How long did the whole process take and how long does it typically take at the Timeshare Store?

 

[Amy5000]

I used them for a purchase and they were "ok". (There were some bumps...nothing to make me swear off them but nothing to make me emphatically recommend them). I certainly would never sell through them but if they had the contract I was looking for, I would consider buying from them again.

Can I asked who the Title Company was? (I used a title company selected by me for the closing, so I don't know who they use.)

 

[extremesoccermom]

We are using them to buy a 50 pt contact at SSR and the company has been fine except that I need to call them once a week to get an updated status (They have only called me once to return my initial call). The problem I am having is with the sellers. They are divorced and having to send the papers back and forth. Hopefully, it will work out soon!!!
I have already written up the paper to do an add on at AKV. My guide is just waiting for the other sale and Membership number.

 

[BWV Dreamin]

Ok, first they lost my contract under a pile of papers that were to be shredded ? So it two over 2 wks. to get all the signatures. Than, it was forwarded on to ROFR....which they said took Disney a long time to get throught their system ? Than, I got an email that closing would take place 8-31. I started the process second week of June. Than, 2 wks. later still not in system. I called Disney admin, and they said they were still waiting for title to be released from the title company. And they had closing to be Sept. 25! Than, I called them last Friday to see what the hold up was, and miraculously they got all the paperwork over like in an hour. So then today, I just called Disney to see if they had everything they needed. They said title company didn't give them right annual dues figures, and today Disney got it all straight with the title company. So tomorrow, I should at least be able to make a ressie! Whole process almost 4 mos., I would say GMAC prolonged the process a whole month. Plus, I had to keep calling and following up, or it might have been October!!

 

[Jaaron2]

We just closed today on our BCV resale through Timeshare and up to this point everything has worked out fine with them. Just waiting now for Disney to update their records and have us listed as the owner Then I can make sure all my points are there. For what it is worth I would go with Timeshare again if I was buying resale.

 

[BWV Dreamin]

Title company is who GMAC uses. I think it is First American Title.

 

[JimMIA]

How long did the whole process take and how long does it typically take at the Timeshare Store?

Normally, we tell resale buyers to plan on 8-12 weeks from their initial offer to being fully "in the system" and able to make reservations.

The "average," if there is any such thing, is probably about 8 weeks, but sometimes there are glitches with the seller, paperwork, ROFR, etc, that can prolong it a little. 12 weeks would be pretty unusual, and is usually the result of a seller vanishing on vacation during the process and being slow to send their paperwork in. That guesstimate of 8-12 weeks has held true with TTS as well as the other two experienced, professional brokers for a number of years.

If OP is almost at 4 months, that's really a long time.

 

[flechette]

Used Timeshare Store- if it hadn't been for glitches on MY end, could have closed in 1 month.

I have posted another thread about this:

Called to get info on contract, made offer and accepted - all in 3 hours.
Owners got their paperwork in 2 days before I did.
Passed ROFR in 8 days.
From ROFR to Closing documents: 2 weeks exactly.

Then there was a holdup - our part/fault- right around the ROFR process ending my credit union changed terms on their loans and we decided to go thru TSS bank. - due to one person being on vacation at the bank and then LAborday weekend followed by the Timeshare Closing person being out of the office we closed 9/11. Could have been as early as 8/25 if we didn't have the loan swap going

And as of today I'm in Disney's system!

Absolutely recommend TSS!

Michelle