A reservation contract (contrato de reserva) in Spain is a provisional agreement that removes a property from the market for a limited period (usually 15 to 30 days) in exchange for a deposit. Its primary purpose is to "freeze" the sale to third parties, allowing you to carry out the necessary legal investigations into debts, property rights and urban planning violations.
Expert Tip: "Never sign a reservation contract without a condition precedent for legal approval. Without this clause, your deposit is generally permanently lost if you decide not to buy, even with hidden defects."
How much is the first deposit in Spain?
Immediately after signing the reservation contract, an initial deposit is required. In the current Spanish property market, this amount is by default between €3,000 and €10,000, depending on the region and price.
This payment acts as a deposit. It is crucial to understand that this amount non-automatic refundable is. If you abandon the purchase without a valid legal reason (as stipulated in the contract), you will lose this amount.
Read more about the buying process in Spain.
Pay safely: Who do you transfer the money to?
The recipient of the payment largely determines the security of your capital.
- Our third-party account (lawyers): Safest option. We hold the money and transfer it to the seller only upon deed.
- The broker: This is common and usually acceptable at reputable firms, but offers less direct control in disputes.
- The seller: Dump never directly to a private seller's account.
Can I get my reservation fee back?
Yes, but only if explicitly agreed. Basically, in Spain: bought is bought. To protect your deposit, you should include specific clauses in the contrato de reserva.
Reimbursement scenarios:
- Negative legal opinion: If the legal investigation reveals irregularities (e.g. illegal construction, outstanding debts with the Comunidad, or the lack of a Licencia de Primera Ocupación), you can cancel free of charge provided the condition precedent is included.
- Technical defects: If you hire an architect for a technical inspection, agree beforehand who will bear these costs.
Note on new construction: When buying new construction on plan, stricter rules apply and repayment is rarely possible without weighty legal reasons.
Read more about what to do in case of a mis-selling.
From Reservation to Compromise (Contrato de Compraventa)
After the reservation period has ended and the legal examination has been completed positively, the next step will be the following: the compromise (contrato de compraventa or contrato de arras).
In doing so, you make a second deposit, which usually adds to the total amount up to 10% of the purchase price.
- Binding nature: Where a reservation contract sometimes still leaves room, the compromise is final.
- Penalty clause: Often a arras penitenciales recorded. Does the seller abandon the sale? Then he must repay you double the down payment. Do you abandon the sale? Then you will lose your 10%.
It is important that you do not sign the compromise until you are certain about the legal situation of the property. After all, the compromise is a binding sale-purchase agreement that you cannot renounce. Using a practical example, we explain why it is best not to sign the compromise too quickly.
Find out what Confianz can do for you if you decide to buy a second home in Spain.
Frequently asked questions (FAQ)
Is a reservation contract compulsory in Spain? No, it is not a legal requirement, but it is very common in the Spanish property market to take the property off the market during the legal search. Without a reservation, the property can be sold to another bidder.
What happens if I don't make the 10% deposit on time? If you let the terms from the reservation contract expire without signing the compromise and paying the 10%, this is legally considered a breach of contract. You then lose your initial deposit (€2,500 - €6,000) and the seller is free to sell the property to someone else. In practice, however, the reservation remains valid while negotiations on the purchase agreement are still ongoing.
Can I make the deposit by credit card? Yes, many estate agents accept credit cards for the initial reservation sum (up to around €3,000 - €6,000). For the subsequent 10% deposit and the final purchase price, a bank transfer (or bank cheque at the notary) is required due to money laundering legislation.
About the author: Glenn Janssens is a lawyer specialising in Spanish real estate transactions and tax regulations. Since 2017, he has been helping Belgian and Dutch individuals and entrepreneurs to safely purchase and structure real estate in Spain. He guides files from A to Z: from due diligence, ownership and tax control to estate planning and optimisation for residents and non-residents. Thanks to his years of experience, hundreds of handled files and focus on transparent communication, Glenn makes complex Spanish legislation understandable and practically applicable for every property buyer.
