Making an offer in Spain follows a clear sequence, and the thing to understand is what each step commits you to, because the deposits get more serious as you go. Done with your eyes open, it's straightforward. The danger is only ever in signing something you didn't fully understand, which is exactly why your independent solicitor (next post) should see everything before you sign it.
In this article
Step one: the reservation
Once you've agreed a price, you'll often be asked to pay a small reservation deposit, frequently around €5,000, and sign a reservation contract. This takes the property off the market so nobody can gazump you while the paperwork catches up. At this point you're not yet fully committed to buying, but you would generally lose the reservation fee if you simply walked away. Have your solicitor check this document before you sign it, even though it feels minor.
Step two: the private purchase contract and the 10% deposit
Once the checks are complete and the details are finalised, a private purchase contract is drawn up, in Spain often called the Arras contract. Signing this, and paying a more substantial deposit, usually around 10% of the price, is the real commitment. From here, the protection runs both ways: if you pull out, you lose your deposit; but if the seller pulls out, they're typically liable to pay you back double what you put down. That symmetry is one of the more reassuring features of the Spanish system.
Why the order matters
Notice the sequence: you do the checks from the previous step, then you sign the big contract. Not the other way round. The reservation buys you the breathing space to complete due diligence; the purchase contract is what you sign once it's done and clean. Rushing to the 10% before the checks are finished is how people commit to problems they hadn't found yet.
Keep your solicitor in the loop at every step, make sure you understand exactly what each signature means, and the path from offer to deposit is calm rather than nerve-wracking.
Your checklist for this step
- Agree your price, and have your solicitor ready before you sign anything
- Get the reservation contract checked before paying the reservation fee
- Make sure due diligence is complete before the 10% deposit
- Understand that the 10% deposit commits you, with double-back protection if the seller pulls out
- Keep a clear record of every payment and what it's for
- Re-confirm your total costs (deposit, balance, taxes, fees) on the Kyero budget calculator
Know what you're signing
The free Spain Buying Guide explains reservation contracts, deposits and the purchase contract in detail.
Download the free Spain Buying Guide →
Or carry on reading. The next post is the one that protects all of this: "Everyone's telling me I need a lawyer - do I?"
Written by
Nick StoreyNick Storey is the Operations Director at Kyero.com, where he leads platform operations, product delivery, and commercial strategy.
Having lived and worked in Spain for 14 years, Nick began his career as an estate agent on the south coast of Granada and brings first-hand market experience to his work.
He joined Kyero in 2007 and has since played a central role in scaling the business, shaping its product direction, and strengthening how international buyers connect with agents across Spain, Portugal, France, and Italy
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