The key stages, from reservation to the handover of your apartment
1) The reservation contract
On receipt of your electronically signed reservation contract, it is checked and recorded by our legal department, who also signs it electronically. Once the legal right to reconsider has expired and the deposit has been banked, you have officially reserved an MGM apartment.
Confirmation will be sent to you in a welcome e-mail which will enable you to activate your MGM client area. Your MGM advisor will be your personal contact up to the handover of your apartment. This secure interface will host all the information relating to your purchase: reservation contract, plans of your apartment, technical description as well as everything you need to monitor its progress (advisory notices – site photographs …)
2) Financing your property project
As soon as your reservation has taken effect, you can begin looking for funding for your project, from your bank or other lenders, either directly or through a broker. If you wish, your MGM advisor can help you, specifically by submitting your application to lenders with whom we work.
3) Stage payments
When you purchase a new-build apartment off plan, the work has not been completed. Your purchase is funded in stages to correspond with the progress of the construction by means of stage payments. MGM’s accounts department will notify you when these fall due in accordance with the terms of the provisional payment schedule issued to you at the time your reservation contract is signed. The dates are indicative and are subject to change according to the actual progress of the construction.
4) Signature of the definitive deed of sale
The key stage which formalises your purchase, the definitive deed of sale is signed in the presence of MGM’s notary in charge of the development. Your own notary may work with them at no extra cost to you. The MGM notary will contact you to agree a date for the signature. After the deed has been recorded, you will receive an authenticated copy of the deed of sale, which serves as a title deed. The original version is retained by the notary. An acknowledgement of signature will be available in your client area.
5) Site visits
For safety reasons, members of the public are not allowed on construction sites. However, site visits can be arranged in the company of your advisor. You simply contact then to arrange a date.
6) Key handover
It is at the time of the key handover that the end of construction inspection takes place. This enables you to confirm that everything has been carried out in accordance with the plans, failing which the reservation system allows you to point out what must be corrected. The document formally confirming the handover of the apartment is signed in the presence of the development manager.
Good to know:
In the case of a rental investment managed by MGM Hôtels & Résidences, your advisor or the manager of the establishment can carry out the inspection if you wish.
And after …
The project has been completed, our constructor guarantees continue to protect your property in the long term.
- 1 year for any fault noticed after the key handover (garantie de parfait achèvement - completion guarantee).
- 2 years for electrical and plumbing installations (garantie de bon fonctionnement - operating guarantee).
- 10 years for the foundations, walls and roof (garantie décennale - 10-year guarantee).