Once the Property Has Been Found, the Purchase Process is Divided into Three Key Stages:
1. Property Reservation
Once your offer has been accepted by the seller, you can reserve the property to begin the legal verification process.
The reservation amount may vary, although it is most commonly set at €6,000.
This payment removes the property from the market and allows time to ensure that all legal documentation is in order, confirming that the property is eligible for sale.
2. Private Purchase Contract (Contrato de Arras)
After the legal checks have been completed, the next step is to sign the private purchase contract, known in Spain as the “Contrato de Arras”.
At this stage, a payment of 10% of the total purchase price is typically made, minus the reservation amount already paid.
This contract sets out the full terms of the purchase and establishes the deadline for completion at the notary.
3. Signing at the Notary
The final step is signing the public deed of sale before a notary.
At this point, the remaining balance is paid, and the keys to the property are handed over.
Congratulations! 🎉 From this moment on, you are the legal owner of your new home in Spain.
