posted 04-13-2005 13:07               

First, my friends spelled out the terms as they understood them to the Broker via email. I helped them write the emails so I know they were clear.

Second, the contract did not reflect all of the terms and the broker refused to change it. The broker wanted them to submit their own letter of understanding.

Third, the broker insisted on an Addendum granting the title company (here they use a law firm) the ability to extend the settlement date by 60 days at their option. Our friends refused to sign it and the broker never provided a clear answer as to whether it would be required.

Before our friends could pull out of the deal, the broker emailed them and told them that the sellers had a misunderstanding about one of the terms of the agreement and were withdrawing from the deal.

Choose your brokers carefully!

posted 04-13-2005 13:37               

My concern with Timeshare only, is that there is a $1000 finders fee that you, as the buyer, must pay to them over and above the price of the TS and closing costs. This might be worth it if your buying an expensive TS like the Four Season or a Platumin Marriott but for most TS adding on another grand would be a deal killer for me.

One last thing, I believe that GMAC is a franchise. So it may be that all GMAC realtors are not like the ones like o2bmmw mentioned or the ones assocated with Timeshare only.

Good Luck

posted 04-13-2005 14:42               

I have bought a couple units from Vacationsonly.. All went smoothly. I feel bad for the sellers, after they took the lowbval offer and paid the commission, there was nothing left.

Dave

posted 04-13-2005 16:56               

I'd be interested in what the seller believes they are getting for that amount? Especially when you see a listing of $800. The broker fee is higher than the asking price!!

posted 04-14-2005 08:24               

quote:

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Originally posted by dougp26364:
We used GMAC for our E-bay purchase and didn't have any issues with them. We didn't pay any $1,000 fee either or I would have backed out of the deal.

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What?? DOUG bought resale? The world is coming to an end.
$1K??, thats $25K less than your average purchase price.

posted 04-14-2005 15:53               

quote:

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Originally posted by calihockey33:

What?? DOUG bought resale? The world is coming to an end.
$1K??, thats $25K less than your average purchase price.

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I know it's hard to believe but I just coudn't see myself purchasing a week from a salesman dressed in a bright yellow and black plaid, goodwill purchased sports jacket and enough greese in his hair to make an arab weak in the knee's. That and the shine off his well worn polyester pants blinded me so badly I counldn't have read about the special 25% easy pay financing plans that they were offering.

Actually, Branson is the one place I'd never but developer. Most have been either new resorts with little resale available or unit location specific that would be tough to find resale. The biggest exceptions would be Hilton and our first purchase. That first purchase was pre-tug and only cost me $12,000 more than it should.