GMAC Problems?

[nunzia]

I hope it is OK to ask this here. I saw somewhere on these boards not to use GMAC for a resale, so naturally they are offering just about what I want at a decent price. It does seem their extra charges are a bit more than I'd like, but what are the other issues with this company? Anyone have any experience with them, good or bad?
Thanks

 

[jekjones1558]

I was in the same boat as you for our most recent add-on. I had a great experience with TTS but they did not have the contract I wanted and GMAC did. I worked with Rachel and Jackie at GMAC and couldn't have been more pleased. I have read, however, about other agents at GMAC who were not as responsive as these two.

 

[Doris1962]

I bought 100 BWV points this summer with them and I had NO problem, my brooker was Jackie and she was wonderfull. It took me two months to close and It was Ok for me

 

[BWV Dreamin]

Go to this thread, it will give you some insight....
http://www.disboards.com/showthread.php?t=1584599&referrerid=&highlight=Buyers+Beware

 

[Buckeye Fan]

DH and I bought two contracts from Jackie at GMAC earlier this year. I was extremely pleased. When I had questions, she was more than responsive and always returned my calls or e-mails promptly. I would definitely purchase from them again.

For what it's worth, negotiate. We had both sellers pick up closing costs on loaded contracts and one picked up the GMAC fee. We ended up around the same price as Dis's friends and family promo with more banked points.

Here are our contract submissions that pass ROFR. We submitted on 1/23/07and passed ROFR on 1/31/07.

SSR Contract 1 - 270 points @ $84 per point, seller pays closing costs and GMAC fee. 217 points from 2006 and all of 2007 points coming on 8/1.

SSR Contract 2 - 120 points @ $84 per point, seller pays closing costs. Buyer pays GMAC fee. 120 from 2005 banked, 120 from 2006 banked and all points for 2007 coming on 8/1. (Both SSR contracts submitted together.)

 

[Jaaron2]

I have read alot of bad posts regarding GMAC on the boards. I went through TTS for a resale contract and could not have been happier. They were extremely professional and always responded to me immediately. You just need to make sure you are comfortable with who you are dealing with. I dont ever recall reading about anything bad regarding TTS.

 

[epicureangirl]

I went through Rachel at GMAC. She was great, I could either get directly through to her, or she would get back to me ASAP... phone or email, quite impressive. I think I almost called her 'too much', but she always gave me the sense that she was right on top of things and was very pleasant to deal with. Again, they had a contract that I wanted at BCV (much less per point than what was listed with TSS) and it passed ROFR so I am just waiting to close... but so far so good.

 

[nunzia]

Again, thank you all for your quick responses. This is a very helpful board.

 

[JandD Mom]

When I bought my BW contract, we had problems with them. They wanted us to sign an agreement that would essentially give GMAC's real estate attorney a large amount of time to close after ROFR. When I told them I would not agree to it, and I asked that a title agent be used, or that the time be modified, they said no. Then, after having my deposit and all other paperwork signed, the "sellers" suddenly "changed their mind".

I can't imagine that the document would have benefitted seller in the least, since there was no reservations on the contract. In my opinion, it appeared that this document was designed solely to benefit GMAC and direct fees to the attorney they insisted on using.

I don't know if they still do business this way, but based on my prior experience, I would not use them again, and I would not recommend that anyone use them.

 

[nunzia]

When I bought my BW contract, we had problems with them. They wanted us to sign an agreement that would essentially give GMAC's real estate attorney a large amount of time to close after ROFR. When I told them I would not agree to it, and I asked that a title agent be used, or that the time be modified, they said no. Then, after having my deposit and all other paperwork signed, the "sellers" suddenly "changed their mind".

I can't imagine that the document would have benefitted seller in the least, since there was no reservations on the contract. In my opinion, it appeared that this document was designed solely to benefit GMAC and direct fees to the attorney they insisted on using.

I don't know if they still do business this way, but based on my prior experience, I would not use them again, and I would not recommend that anyone use them.

Ugh...well, right now I'm working with Jackie, and so far she has been very good..the sellers won't budge, but it's such a small contract, I guess I don't blame them. We'll see how it all goes..Fingers crossed for me to add Old Key West to my sig!

 

[JandD Mom]

Ugh...well, right now I'm working with Jackie, and so far she has been very good..the sellers won't budge, but it's such a small contract, I guess I don't blame them. We'll see how it all goes..Fingers crossed for me to add Old Key West to my sig!

I was working with someone named Janet. I hope it all works out for you. Good luck!

 

[Stevegriswold]

I went through Rachel at GMAC. She was great, I could either get directly through to her, or she would get back to me ASAP... phone or email, quite impressive. I think I almost called her 'too much', but she always gave me the sense that she was right on top of things and was very pleasant to deal with. Again, they had a contract that I wanted at BCV (much less per point than what was listed with TSS) and it passed ROFR so I am just waiting to close... but so far so good.

Hi, We did the same thing. We bought BCV at an amazing price per point and also had the Seller pay all closing costs and fees. So we just paid the low per point price. Everything went great and we already have our first stay booked. A month later we bought a small OKW contract again for a super low price per point and seller paid All closing costs and GMAC fees. That one is also now in the system.

 

[Stevegriswold]

Ugh...well, right now I'm working with Jackie, and so far she has been very good..the sellers won't budge, but it's such a small contract, I guess I don't blame them. We'll see how it all goes..Fingers crossed for me to add Old Key West to my sig!

We just added OKW 60 points (all 2007 and 2008 points avail.) for $75 a point. Seller paid ALL Closing costs and Fees. We just paid the $75 per point.

Worked out well. We closed a few weeks ago.

Good Luck.

 

[MBELSANTI]

Wow, is this the norm that you can get most sellers to pay the closing costs? If so, I feel duped as I am in the process of closing 2 contracts and I paid closing on both.

 

[nunzia]

Wow, is this the norm that you can get most sellers to pay the closing costs? If so, I feel duped as I am in the process of closing 2 contracts and I paid closing on both.

Well, we are in the same boat, because my sellers woudn't budge on anything..and it was $78.00 a point. Still it will be worth it to get 'in'

 

[DISNEY FIX]

I have read alot of bad posts regarding GMAC on the boards. I went through TTS for a resale contract and could not have been happier. They were extremely professional and always responded to me immediately. You just need to make sure you are comfortable with who you are dealing with. I dont ever recall reading about anything bad regarding TTS.

He's right on the money,if it aint broke don't fix it!