Contracts when buying Spanish property

When buying a Spanish property, you need to sign several contracts. What is the difference between all contracts? What conditions must this meet? Read all contracts carefully before you sign this. Booking a property subject to financing, for example, is not common in Spain! Not fluent in the language and can't understand the contracts? Then the advice is to hire a lawyer or a gestor.

Have you found a property to your liking? Then you might consider signing a reservation contract, or 'Contrato de Reserva'. Upon signing this contract, the seller is obliged to stop offering the property for sale publicly. It is customary to pay a deposit with this booking contract. An estimate of this amount is between €3,000 and €6,000. This reservation fee will be deducted from the purchase price when the property passes. Keep in mind that the property could still be sold to someone else!

You sign this document (after any booking contract) to record your serious interest. A contrato de ARRAS is also called a preliminary sales contract.

The final purchase contract, escritura de compraventa, is signed during the passing of the property at the notary. The final purchase contract, escritura de compraventa, is signed during the passing of the property at the notary.

Before signing the above contracts, the advice is to examine the property carefully. Is there a Cedula (residential permit) present? Is the property legally registered? Is the Nota Simple in order? These are important things to know what kind of property you are purchasing. Should any defects be present at the property, the Spanish bank may simply not provide financing for it. Unfortunately, this kind of situation is not unusual in Spain.

Therefore, always be well informed!