International GMAC Real Estate

[mimimascio]

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

 

[JimMIA]

There are three resale brokers, including the sponsor of this board (The Timeshare Store), who have excellent reputations and who many of us have used. I've used the Timeshare Store and they were great.

Timeshare resale contracts are rarely exclusive and you'll often find the same contract listed with numerous realtors, both reputable and . And, if one of the experienced brokers doesn't have exactly the contract you looked at, they probably have one just like it.

Also in the marketplace, there are a few realtors who try to supplement their regular offerings with a few timeshare listings. I have not purchased from any of those, but the stories I've heard are pretty laughable.

If you want to take a chance, I'd at least do some due diligence.

Go to MyFlorida.com (sounds hokey, but it's actually the official State of Florida website). Go to the Department of Business and Professional Regulation...the body which regulates realtors. There, you can check on licensing, complaints, etc.

I'd also go to the Florida Secretary of State's corporate registration site and see who owns the realtor, and then go see if that person is a licensed realtor, and whether they have any complaints/disciplinary action, etc.

Personally, I'd stick with one of "The Big Three."

Good luck!

 

[mimimascio]

Thanks. I would rather not take a chance and stay with the big three. You mentioned the Timeshare store, what are the other two companies?

 

[MojitoMiss]

I was on the waitlist for BCV points at all three companies for quite a while ( 2+ months). I found the GMAC website one day and noticed lots of listings, including exactly what I had been waiting for. I decided to give them my business after a little hesitation, and I have not been sorry.

My contract passed ROFR quickly and closed smoothly. GMAC has been easy to work with and I am now just awaiting my official information to come in from Disney. Total process took about 6 weeks. Based on my experience, this is a good company.

Maybe next time I will be able to use TTS, as they were very good to deal with, too. They just didn't have what I was looking for soon enough.

MM

 

[NJOYURLIFE]

I recently used them for the purchase of a small point contract and had no problems. Everything went very smoothly. I was initially very hesitant to use them because I had not really heard anything about them and it took them forever to return my initial calls. The Timeshare Store, the sponsor of this board, was my first choice to use. However, as I am sure you know, small point contracts are difficult to find and even more so when you are looking for a certain use year like we were. I had the TSS looking for me and we even did one contract that got ROFRed. In the end GMAC came through before TSS for the second contract and this contact made it through ROFR.

 

[Chuck S]

WHile I haven't used any reseller, GMAC should be legit. They are a division of General Motors.

 

[JimMIA]

WHile I haven't used any reseller, GMAC should be legit. They are a division of General Motors.

Actually, despite their pretentious name, they're just a locally-owned franchise. You're dealing with a local Orlando realtor, not General Motors.

 

[Anthony1971]

Actually, despite their pretentious name, they're just a locally-owned franchise. You're dealing with a local Orlando realtor, not General Motors.

It is part of GM -- GMAC is General Motors Acceptance Corporation and they have thier hands in a LOT...
This part is Franchised like most other big Real Estate chains. In other words you will have some good offices and some bad ones....

Does it offer protection!!!!!! A lot of Corportae red tape if there is a problem, but better then your local corner guy by far.

 

[allflgirl]

I used GMAC and had no problems with the contract and paperwork. The only thing that I can note is that I never got the "you passed ROFR" call. I called them a week after I thought I should have heard something and they called back the same day and said I just passed ROFR that day. I don't know if they would have ever called, as I also was never contacted about the closing date. I just kept calling MS after the time I thought I should have closed, a couple of weeks before the actual close date (which was 8 weeks out from when I bid on the contract) and I found out via MS that I was in the database and I could start making my ressies. I got my closing docs 3 weeks later, about the time I got my membership cards from Disney. I'm glad I didn't wait, as it was hard enough to get my ressies for Sept. in mid-July.

It would have been nice to have a call to let me know that the closing took place and I should be able to call MS within 5 - 7 days for my member #.

Just my experience.

 

[Cricket2]

It is part of GM -- GMAC is General Motors Acceptance Corporation..

Ditech

 

[mimimascio]

Thanks for everyones help. Although, my first choice would be to go through the Timeshare Store, it is very difficult to purchase small contracts and I would like to look at every option.

 

[JimMIA]

It is part of GM -- GMAC is General Motors Acceptance Corporation and they have thier hands in a LOT...
This part is Franchised like most other big Real Estate chains. In other words you will have some good offices and some bad ones....

Does it offer protection!!!!!! A lot of Corportae red tape if there is a problem, but better then your local corner guy by far.

I know who GMAC is.

But even this company's own website says they are an independently-owned franchise. I don't think the franchiser does much more than lease their name and provide a marketing network. They're certainly not involved in the operations, nor do they have any financial liability for anything the franchisee does.

I repeat my caution about due diligence.

 

[Boston5602]

I have NEVER bought resale ( I may one day ) but while searching for DVC POINTS for sale I've never seen the Timeshare Store use a "red week " sales pitch to sell DVC ,while I have seen a GMAC ( Franchise ) realtor list DVC as a red week and they usually do not put in the use year . ANYWAYS these are only my observations about two tiny listing items and two different franchises ,look for your self at how they list their inventory.

 

[JimMIA]

I have NEVER bought resale ( I may one day ) but while searching for DVC POINTS for sale I've never seen the Timeshare Store use a "red week " sales pitch to sell DVC ,while I have seen a GMAC ( Franchise ) realtor list DVC as a red week and they usually do not put in the use year . ANYWAYS these are only my observations about two tiny listing items and two different franchises ,look for your self at how they list their inventory.

I repeat my caution about due diligence.

 

[disneydenisel]

I purchased our BCV contract through GMAC. No problems and everything was done smoothly. Good luck!

 

[Scotch]

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

LIST WITH A REAL ESTATE BROKER: You may list your Ownership Interest for sale with a licensed real estate broker. If you decide to list with a real estate broker, we recommend that you use the following company who has previously assisted other owners in the sale of their Ownership Interest:

International Properties/GMAC Real Estate (“GMAC”)
11059 International Drive, Suite 100
Orlando, FL 32821
Telephone: 407-465-5161 or 800-464-4201 Fax: 407-465-5166
Web Page: www.internationalgmac.com

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.

 

[vascubaguy]

I talked with someone from GMAC when I was in the market for a resale... sounded a bit shady to me. I mean I knew way more than the person I was talking to and he didn't seem very willing to help negotiate much. He also provided me with wrong info about the ability to purchase and financing options (he told me I could use a credit card, then later told me no, then called back to tell me I could use a credit card but I'd have to pay a fee for doing so-which goes against merchant agreements for credit cards).

I also heard a rumor that the owners of that franchise have unsuccessfully operated under different business names in the past (I didn't try to verify that as I already felt iffy about dealing with them).

Just proceed with caution... but if you can find what you are looking for with the "big 3", I'd recommend sticking with one of them.

 

[Dennyha]

We've purchased a non-DVC timeshare through this office of GMAC, and were quite pleased with them. I know when I inquired about DVC, I was told that they had an agent who specialized in DVC with whom I could speak. I'd have no hesitation to deal with them again.

 

[Anthony1971]

I know who GMAC is.

But even this company's own website says they are an independently-owned franchise. I don't think the franchiser does much more than lease their name and provide a marketing network. They're certainly not involved in the operations, nor do they have any financial liability for anything the franchisee does.

I repeat my caution about due diligence.

I agree with Due Dilligence however yes GMAC does bear the burden as it is a franchise authorized by them as is McDonalds etc you would sue McDondalds as well as the owner of the franchise as in the recent cases for SUPER SIZE GMAC advertises a certain policy and way the customers are treated and if this is not so GMAC is responsable.
I worked with a Franchise chain of GMAC for about a year which was operating poorly -I had to stay with the company due to a contract for the period I was with them- after I left and many others the real GM executives came and dismanteled the operation and corrected the previous wrong doing.
I again agree with Due Dilligence but you certianly have recourse

 

[mimimascio]

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?