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MGM Reality
Kariéra v MGM

Safe reservation and payments

MGM provides multiple protection of the funds of its clients. Therefore, the providing of reservation deposit or deposit payments are as safe as possible.

  • Gurantee Fund
    • MGM contributes and is a member of Guarantee Fund ktwhich is managed by National association of realtors of Slovakia - NARKS.  The aim of the guarantee fund is to protect the finance of the clients, which was paid as reservation deposit. In the event that the real estate agency would retain the deposit wrongfully, or the agency would become inslovent etc. the clients shall not lose their advance payment, because it will be paid from the GUARANTEE FUND resources.
  • MGM has liability insurance concerning providing the realty and auction activities.  It covers possible losses incurred by our professional failure. Throughout our history, we have never had even one insured event.
  • The funding received by MGM from the reservation deposit is not used for running the offeces or overhead. All are documented separately in the accounting. 
  • We prefer non-cash payment of the reservation deposit. Our account numer is always officially specified in the contract. For secure transer of the reservation deposit, always check the account number stated in the contract and compare it with the account number indicated on our online headquarters for the respected branch / office. You can find it in your billing information. If it does not match, please do not pay the reservation payment and contact us. 
  • The cash advances are taken only by company agent or legal representative, and solely in the official premises of the company under contract or a written order and invocice. The amount exceeding 4.999 EUR must not be taken in cash and is paid only by bank transfer. All employees, brokers, specialists and partners accept these rules. Their potential violation would result in the termination of the cooperation. MGM brokers are not entitled to receive any funding and payments from our clients. MGM throughout its history did not record a single case of unauthorized handing of clients' funds. 
  • Deposit of the purchase price

For depositing the purchase price MGM uses the institue of notary public or blockage of the funds in bank and deposits the purchase price money on own accounts. It is a service paid by the client and it is not included in MGM commisssion, but MGM provides assistance in the establishment of such custody, provides reference for notary office or bank. 

How does it work? The deposit is mainly used in the purchase of the property financed by own own funds without drawing a mortgage. When drafting the purchase contract the specific conditions for the payment of the purcchase price are specified. The part or the complete price shall be transfered to blockage account and conditions for transfere of this funds shall be specified for the trunsfer of these funds to the account of the seller (the former owner). The most common condition is a change of ownership from the seller to the buyer (authorization of transfer of ownership) and writing the title deeds. 

Following the fufillment of the conditions such as delivering new ownership certificate, the bank or notary shall transfer the blocked finance to account of the seller (the former owner). We guide our clients comfortly during the whole process of managing the blockage as well as setting up the blockage conditions.  MGM recommends custody of the purchase price, or its part within each transaction when the clients use own funds. It is the safest and the most transparent method of payment of the purchase price and protection of the property rights during the trasfer.