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    Property development
    built by MG CONSTRUCTIONS
    Builder - developer

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  • HOW TO BUY?

    3 STEP PURCHASE PROCESS

    PAYMENT TERMS

    HOW TO FINANCE MY APARTMENT?

    CONNECT WITH YOUR ADVISOR

    PURCHASE PROCESS:

    1) Sign a ” Reservation Agreement “

    The “Reservation Agreement ” is a deed drafted before a notary in Cameroon. This agreement guarantees the reservation of your chosen unit for a determined period and precedes the signing of the “Purchase Agreement”.

    This agreement includes :

    • The plan of the apartment
    • The technical specifications of the unit
    • The co-ownership regulations

    The reservation agreement stipulates :

    • The price and terms and conditions of payments
    • The projected delivery date

    Upon the signing of a “Reservation Agreement”, a payment must be deposited to a ” sequestered” account, a blocked account managed by the notary on behalf of the development program. The deposit amount will equal 5% of sale price ATI.

    2) Sign a “Purchase and Sale Agreement”

    The “Purchase and Sale agreement” is a deed drafted before a notary in Cameroon, a maximum of 4 months after the signing of a “Reservation Agreement”.

    The contract must include :

    • References of the apartment in the condominium
    • Proof of the financing (bank loan or bank guarantee)
    • Proof of the “Proprety Title” delivered by offices of States property, surveys and Land tenure of Republic of Cameroon.

    Upon the signing of the “Purchase Agreement”, a second payment of 5% of the sale price ATI must be provided. The “sequestered” account will be liberated and MG Constructions, the promoter-developer, will collect the full 10% amount.

    3) Terms and Conditions of Payment

    During each step of the process, MG Constructions, the promoter-developer, will provide a proof of purchase to the buyer, along with an attestation from the architect and the control bureau.

    The buyer must provide an “autorisation of payment”, ensuring that the bank (lender or guarantor) will process the payment within 8 days.