Gmac??

any opinions on purchasing from GMAC?

which one??

GMAC is all over the place and has some good and not so good people, depending on the office. There was a recent thread on this - you might do a search on GMAC and read thru it - lots of names mentioned.

GMAC sells under the Timeshares Only site of that very name. Of course, this is one of their many venues and who knows how many GMAC's are out there that are not related to one another and just use the name.

Their pricing is way over what you will find if you deal with the buyer directly...
I have deal only ONCE with them, their agent ask me to send $500 to show I was serious about buying....

I knew there were resellers asking for an upront fee before selling your TS.
But an upfront fee for buyers...NO WAY!
I just ran away from these guys...

Besides asking an up front fee from seller they sometimes ask for a commision from the buyer. I purchased a unit through them and they move very slow. It took 4 months to close and transfer where 2 I purchased through Holliday Group and an ebay auction both closed and transfered in 4 to 6 weeks. Unless they are the only one with what you want I would look else where.

I have read the good, bad, and ugly opinions on GMAC for the past 6 months.

I can only relay my "good" experience with Tracy Wetterberg at GMAC.

I bought a Marriott MMC Platinum from her at a great price. We lost buying a MSE due to ROFR and I posted about that on TUG.

I am not related, not friends, and have no vested interest to Tracy. She just provided me with good service and I highly reccomend her.

That is rare in the TS resale industry.

I bought a week at Shearwater from Timeshares Only and dealt with Bobbie D. She was okay, I got the price I wanted, which was lower than resale sites. I was just hoping to find one on ebay for a bargain price and it never happened for me. I decided to search for one and found it, then we negotiated the price.

GMAC

I have dealt with them, they are kinda slow, but good prices if you make low ball offers.

I had the same experience as Glaval. The GMAC salesman told me, in no uncertain terms, that I was unrealistic wrt price, but if I really wanted he would present an offer- but only if I gave hime a $500 "good faith" deposit. My reaction: (oh- btw- I landed up buying for the same price range I had discussed with him, so I wasn't as crazy as he implied).

Here are some details from the Settlement Statement of a recent purchase I made via GMAC

Buyer pays:
$xxx negotiated cost of TS
$500 deposit (this was paid on CC when the offer was made a few weeks ago and is pretty standard and they credited me back)
$195 admin fee (this is their profit from me)
$95 Marriott admin fee (this is a new fee imposed a few months ago)
$25 Marriott transfer fee (they always charged this)
$135 title insurance (optional, but I wanted it)
$333.33 attorney fees (true closing costs without insurance)
$xxx the 2007 maintenance fees

Seller pays:
$1500 GMAC admin fee (more profit for GMAC)

Thus, GMAC made $1,695 off the deal. I think it was a fair price for both the buyer and seller as they are real estate brokers. I can see how some people would think the price is outrageously high if they were only buying a $500 TS, but when you buy a ski week, Marriott, Hyatt, etc.....it is not too bad. However, I think the buyer gets a better deal that a seller.

I told them I would pay XXXX.00, they said there is a 1K buyer's commission, I said that amount would include the buyer commission and it was a done deal.

I do feel sorry for the people who paid almost $40K for the week we bought for $11K + closing costs. I guess it is better going that route than paying Timeshare Relief and all of those other companies to take the week and sell it on ebay. At least they knew it was worth something.