How often should I call?

[Melani]

I have started checking my email every hour and standing by the mailbox every afternoon - hoping.

We made an offer on Sept.24 which was accepted Sept2.5.
Signed and faxed initial docs on Sept.26.
Emailed acknowledgment of point shortage on Oct. 10. (Agent said Disney notified herthe contract was not due to receive full points in Dec, but was 40 short)

And not a word since. I've emailed my GMAC "agent" twice - no reply.

Is this pretty typical?

 

[lapeter]

I would get on that old invention called a telephone. When you reach the agent, ask them to "bug" Disney. When I did that, my agent emailed Disney and found our we passed ROFR.

 

[5forDiz]

I have started checking my email every hour and standing by the mailbox every afternoon - hoping.

We made an offer on Sept.24 which was accepted Sept2.5.
Signed and faxed initial docs on Sept.26.
Emailed acknowledgment of point shortage on Oct. 10. (Agent said Disney notified herthe contract was not due to receive full points in Dec, but was 40 short)

And not a word since. I've emailed my GMAC "agent" twice - no reply.

Is this pretty typical?

I am certainly not an expert, but have bought points via the resale market...

I don't want to seem like you have been mislead because I really cannot make that determination based on information in your post, but just from what you have said there are things here that I have to wonder about but please just keep in mind this is just my humble opinion ( others here may not see it my way and can probably give you much better opinion &/or advice than me )

But for what it's worth when GMAC notified you of the point shortage did they tell you that you could change your initial offer ? - - because that contract is stripped partially at least of the points that your offer was based upon when you made it on September 24.

I think you should get someone at GMAC to explain to you exactly why they weren't aware of the 40 point shortage in the next allotment of points.

and if GMAC did not discuss with you changing offer or declining to go ahead with this contract imho they should have because I think that you, like most resale purchasers, would presume the resale broker is operating in good faith on your behalf.
~ I'm not 100% on this last point I mention ( my DH is the data bank on who broker is technically "working" for in resale ) but GMAC's obligation so to speak may be to the seller and perhaps this is why what I've mentioned above maybe wasn't discussed with you ?

What is the total points on the contract when full use year allotment is in tact ? Also, who is paying MFs (seller or you or both parties paying portion ?) because you certainly shouldn't be covering MFs for that 40 point shortage.

In any case GMAC should be promptly returning your calls.

 

[disneynutz]

I have started checking my email every hour and standing by the mailbox every afternoon - hoping.

We made an offer on Sept.24 which was accepted Sept2.5.
Signed and faxed initial docs on Sept.26.
Emailed acknowledgment of point shortage on Oct. 10. (Agent said Disney notified herthe contract was not due to receive full points in Dec, but was 40 short)

And not a word since. I've emailed my GMAC "agent" twice - no reply.

Is this pretty typical?

Yes, typical of GMAC. We have purchased contracts from several Brokers and GMAC was the worst in keeping us updated. We got the feeling that they were too big to care.

 

[michellev]

We are currently buying a resale through GMAC and Rachel has kept us informed via email throughout the process. She sent an email notifiying us as soon as we passed ROFR, so I'm wondering if your offer is still at Disney due to the mix-up. I would call and ask if you have passed ROFR so that you know where you are in the process.

 

[Melani]

What is the total points on the contract when full use year allotment is in tact ? Also, who is paying MFs (seller or you or both parties paying portion ?) because you certainly shouldn't be covering MFs for that 40 point shortage.

I didn't counter offer when I got the points short note because the seller's $/pt is already so low.

I still haven't figured out who's paying MF or closing costs and I've read the offer 4 times.

It was easier buying house!

 

[5forDiz]

I didn't counter offer when I got the points short note because the seller's $/pt is already so low.

I still haven't figured out who's paying MF or closing costs and I've read the offer 4 times.

It was easier buying house!

Hi Melani, I didn't post what I did as a criticism to you or of GMAC or to sound any alarms so I hope you're not thinking that. What I posted is just based on my opinion and what my knowledge/experience with resales is.

I see what you are saying that you think the price per point is already low that the seller asked... but what you are receiving in points initially is 40 less points for you to make use of. Sometimes it is hard to perceive the value of points - - Just to give you idea of what you may have been able to do with those 40 points: in January Sun-Thursday/5 nights in studio at OKW equals 40 points ! It's like losing a vacation. This is why I raised the question about making another offer - if you offered less that would be like you are compensated in a sense for those missing points. And if not a lower offer than the seller covering portion of MFs and maybe closing costs especially since they informed you after your offer was accepted that the contract had points stripped.

Regarding MFs, closing costs, etc. get GMAC asap to go over this contract with you and explain those details. You really need to know what these costs are and who is responsible to pay ( seller, you, both ? )

Hopefully other posters will jump in here and give their thoughts ( because like I said this is just my point of view based on what I know but, again, I'm not claiming to be any sort of expert ).

Best wishes to you & hope you post back after speaking with GMAC.

 

[Buckeye Fan]

I have started checking my email every hour and standing by the mailbox every afternoon - hoping...

Hi, Melani! My husband and I have purchased 3 contracts through GMAC. Two through Jackie, and one with Rachel.

Jackie probably thought I was her new-found best friend. Seriously, anytime I had a question, I picked up the phone and called. Jackie was great with e-mail responses, but I didn't usually have the patience to wait for an answer. I was SO excited!

With that said, don't hesitate to call, as they are getting a commission off the sale of the contract. If I reached Jackie's voice mail, I just told her to call me if she had a moment, otherwise, I'd try and catch her later in the day. That left me an opening to call her back in an hour!

Best of luck with your contract. What I found is that the sellers can be a little slow in returning documents. I think it's a little more complicated on their end, as they have to have documents notarized. Just as an FYI, we passed ROFR with Disney in less than 14 days with all 3 contracts.

 

[Melani]

I called her this morning and she said she had checked with Disney last week on it and they still haven't completed the ROFR process.

She said the offer says we have 60 days to close. So I guess it could be another month!

(seller pays 2008 MF / buyer pays closing)

 

[Uncle Remus]

I called her this morning and she said she had checked with Disney last week on it and they still haven't completed the ROFR process.

She said the offer says we have 60 days to close. So I guess it could be another month!

(seller pays 2008 MF / buyer pays closing)

I figure the Mods can delete my post if I shouldn't say this:
I just made an offer 10/18, it was accepted, faxed the paperwork 10/20 and got notice yesterday afternoon it's already passed ROFR. I went thru The Timeshare Store.

I wish you the best on your contract.

 

[trasor]

Don't be afraid to call every day if you feel like you have to. I did a resale with GMAC (Rachel) and will never use them again. I was always the one following up and my closing took longer than 60 days. As mentioned previously, contracts sell by price per point, so if you did not get all the points contracted for, your price should be adjusted, unless you waive this.