International GMAC Real Estate

[JimMIA]

Thanks everyone.

A few of you mentioned the "Big Three" I am only familiar with the Timeshare Store, which I am on a waiting list with. What are the other two companies?

You should start a new thread asking for that info. I don't have either person's contact info, and people who do are probably not interested in this thread.

 

[JandD Mom]

Has anyone purchased a dvc resale with International GMAC Real Estate? I am considering purchasing a small contract and they have a few available on their website, however, i have not heard much about this company.

Thanks

This is my opinion, based on my experience, and does not represent professional advice.

I had a very poor experience with them last year, when I was trying to purchase our BW points. Things were not going smoothly, and at the time the AGENT was insisting on some very onerous contractual provisions in the agreement of sale (including extensions for settlement of the contract at the option of the attorney used by the agency). My feelings at the time were that the agent was very much an amateur. It also appeared that the onerous demands were being made by the agency, and not the sellers of the contract themselves.

There were some other legal aspects of the deal that appeared to be amiss in my opinion, but I would prefer not to post them on a public forum. Suffice it to say, I was not of the opinion that things were proceeding as they should have.

I would definately recommend Tom and his staff at TTS (have some correspondence with any of them and you will see the difference).

BTW, I did not use TTS or Tom myself. I purchased directly from an owner and we worked out the details ourself. The only reason for this is that at the time, TTS did not have what I was looking for. However, if I decide to purchase another contract, I would not hesitate to use TTS.

 

[JandD Mom]

We sold a contract on our own a couple of months ago. The resale information packet that members administration sent us contained the following:

Be careful of the GMAC endorsement by DVC. I was told by a former DVC employee that DVC was soliciting bids for a brokerage to be "endorsed" by DVC. Therefore, as I understand it, GMAC PAID for this endorsement. That is the extent of GMAC's qualifications to be "recommended" by DVC.

Shame on DVC for doing this. DVC should instead be looking at the brokers who bring the most deals and service the members (sellers and buyers) well.

 

[Mr Poohbrain]

We used them in 2002, everything went smooth, very professional. Good Luck!!

 

[JimMIA]

Please note that an affiliate of Disney Vacation Development, Inc. (“DVD”) may be entitled to receive a referral fee from GMAC if you utilize their services to sell your Ownership Interest.

Be careful of the GMAC endorsement by DVC. I was told by a former DVC employee that DVC was soliciting bids for a brokerage to be "endorsed" by DVC. Therefore, as I understand it, GMAC PAID for this endorsement. That is the extent of GMAC's qualifications to be "recommended" by DVC.

There is nothing illegal about DVD demanding, or the broker paying, a referral fee. But, while the practice of paying a "referral fee" is legal in the real estate industry, the fee is clearly the motivation for any "endorsement."

Personally, I would recognize the reality of that relationship for what it is and ignore the endorsement.

The referral fee is not my reason for suggesting due diligence in this particular situation.

 

[lisareniff]

A few of you mentioned the "Big Three" I am only familiar with the Timeshare Store, which I am on a waiting list with. What are the other two companies?

Here is aList from Mouse Planet.

Also http://www.atimeshare.com

 

[JandD Mom]

There is nothing illegal about DVD demanding, or the broker paying, a referral fee. But, while the practice of paying a "referral fee" is legal in the real estate industry, the fee is clearly the motivation for any "endorsement."

Personally, I would recognize the reality of that relationship for what it is and ignore the endorsement.

The referral fee is not my reason for suggesting due diligence in this particular situation.

Jim, I don't think I said the endorsement arrangement with DVC was illegal, in fact I know it is not. I just think it is appalling that there are good agencies with good records and DVC is endorsing one that is neither, but has enough cash to pay DVC. Perhaps I will open my own agency even though I know nothing about the business, pay DVC more for an endorsement, and watch the business roll in.

One other question, I wonder if anyone knows if GMAC sales get through ROFR more than other agencies? If GMAC is paying DVC a kickback on its sales, it would stand to reason DVC doesn't have much incentive to exercise ROFR on sales presented by that agency.

 

[ckgplus3]

We are currently involved in a transaction through this office - and so far (knock on wood), everything has gone very well. We were just notified that we made it through ROFR (3 days after submission) and closing is to take place in about 3 weeks. I would recommend this office based on my personal experience thus far.

 

[Jacksmom99]

We just purchased a small (61 point) OKW contract from GMAC. Everything went very smoothly and we had all the final paper work in hand in about 8 weeks. I think ours took a bit longer because the sellers were from England and had to mail paperwork overseas. I looked at the big DVC resellers and GMAC had the small contract we wanted with all '06 points as well as the same use year as our other contract. The agent I dealt with was professional and knowledgeable. We also received all documents via email, including notification of ROFR.

 

[uriel12]

Do you happen to have the link to GMAC?

 

[Disneycouple99]

I belive GMAC is now Fidelity. This thread is from 5 years ago.

 

[uriel12]

Thank you! I will look up fidelity.