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How to Make an Offer on Property in Spain: A 2026 Guide

Buying Process · VestaLinks

How to Make an Offer on Property in Spain: A 2026 Guide

Navigating the process of making an offer on a Spanish property can seem complex, especially for international buyers. This guide breaks down the essential steps, timelines, and documentation required in 2026. We'll walk you through each stage, ensuring you feel confident as you pursue your dream Spanish home.

€5,000 - €10,000
Reservation Deposit
Typically paid upon initial offer acceptance
10%
Private Contract Deposit
Usually paid within 10-15 days of signing
6-8 Weeks
Offer to Completion Timeline
Average timeframe in 2026
3-5%
Purchase Tax (ITP)
Varies by region, paid on resale properties
Street scene in Benahavís, Spain, featuring white buildings and plants.
Fountain in Benahavis town at night
Benahavís road with scenic landscape, mountain, and greenery.
Rock formation view in Benahavís, Spain, featuring lush greenery and a parking sign.
Architectural detail of a building with windows in Benahavis, Spain.
Contents Understanding the Initial Offer The Reservation Agreement (Contrato de Reserva) Key Stages of the Buying Process Required Documentation for Buyers The Binding Private Purchase Contract Step-by-step FAQ
By VestaLinks
Buying Process

Understanding the Initial Offer

In Spain, the offer process begins informally. Once you find a property you love, you'll typically communicate your offer verbally or through your agent. If the seller accepts, the next crucial step is to secure the property with a reservation deposit. This deposit, usually between €5,000 and €10,000, is paid directly to the seller or their agent. It signifies your serious intent to purchase and removes the property from the market while legal checks are conducted. The exact amount is negotiable.
Understanding the Initial Offer
Buying Process

The Reservation Agreement (Contrato de Reserva)

Following the acceptance of your offer and payment of the reservation deposit, a formal reservation agreement is drafted. This document outlines the basic terms of the sale, including the agreed price, property details, and the names of buyer and seller. It also specifies a timeframe for signing the private purchase contract. This agreement is a commitment, and breaking it can have financial consequences.
The Reservation Agreement (Contrato de Reserva)
Buying Process

Key Stages of the Buying Process

Here’s a breakdown of the typical stages involved after your offer is accepted.
StageDescriptionTimeline (Approx.)
Reservation AgreementFormalises initial agreement and deposit.1-3 days after offer acceptance
Due Diligence PeriodLegal and technical checks on the property.10-15 days
Private Purchase Contract (Contrato de Arras)Binding agreement with a 10% deposit.Within 10-15 days of reservation agreement
Mortgage Application (if applicable)Securing financing.Parallel to due diligence and contract signing
Completion (Escritura Pública)Signing the public deed at the notary.6-8 weeks after contract signing
Buying Process

Required Documentation for Buyers

To successfully navigate the property purchase process in Spain, ensure you have the following documents ready. Having these prepared in advance will significantly speed up the transaction in 2026.
Buying Process

The Binding Private Purchase Contract

The Contrato de Arras is a legally binding agreement between you and the seller. You will typically pay a deposit of 10% of the purchase price at this stage. This contract details all terms and conditions, including completion dates and penalties for withdrawal. Once signed by both parties, it’s a firm commitment. If you withdraw, you forfeit your deposit. If the seller withdraws, they must typically return double your deposit.
The Binding Private Purchase Contract
Buying Process

Step-by-step

Make Your Offer

Communicate your desired price and terms to the seller, usually via your agent. Be prepared to negotiate.

Pay Reservation Deposit

Secure the property with a small, typically €5,000-€10,000, deposit and sign a reservation agreement.

Conduct Due Diligence

Your legal representative will verify the property's legal status, debts, and planning permissions.

Sign Private Contract (Contrato de Arras)

Sign the binding contract and pay the 10% deposit, formalising the agreement.

Arrange Finances

Finalise your mortgage or prepare the remaining funds for transfer.

Complete at Notary

Sign the public deed (Escritura Pública) and pay the remaining balance. You receive the keys.

Key Takeaways

  • The Spanish property offer process involves a reservation deposit, a private contract, and final completion.
  • Expect to pay a 10% deposit upon signing the binding Private Purchase Contract (Contrato de Arras).
  • A NIE number and a Spanish bank account are essential for purchasing property in Spain.
  • The average timeline from offer acceptance to completion in 2026 is approximately 6-8 weeks.
  • Engage a reputable independent lawyer early in the process to protect your interests.
This information is for guidance purposes only and does not constitute legal or financial advice. Property laws and processes can change. Always consult with a qualified independent legal professional and financial advisor before making any property decisions.

Frequently Asked Questions

What is the average cost of making an offer in Spain?
The initial reservation deposit is typically €5,000-€10,000. The main deposit, paid at the private contract stage, is usually 10% of the purchase price. Total taxes and fees can add another 10-15% on top of the property price.
How long does the offer process take in Spain?
From initial offer acceptance to signing the private contract can take 1-3 weeks. The entire process, from offer to completion, typically takes 6-8 weeks in 2026.
Can I withdraw my offer after it's accepted?
Once a reservation agreement is signed, withdrawing can mean losing your deposit. After signing the Contrato de Arras, withdrawing usually results in forfeiting the 10% deposit, or paying double if the seller withdraws.
What is an NIE number and why do I need it?
The NIE (Número de Identificación de Extranjero) is a foreigner identification number. You need it for all significant financial and legal transactions in Spain, including buying property, opening a bank account, and paying taxes.
Do I need a Spanish bank account?
Yes, a Spanish bank account is essential. You’ll use it to pay the reservation deposit, the purchase price balance, taxes, and fees, as well as for setting up utility contracts.
What are the additional costs of buying property in Spain?
Besides the property price, budget for purchase taxes (ITP or VAT/AJD), notary fees, land registry fees, and legal fees. These typically add 10-15% to the purchase price.
How much should I budget for legal fees?
Legal fees in Spain generally range from 1% to 1.5% of the purchase price, plus VAT. It's crucial to hire an independent lawyer who represents only you.
When do I pay the 10% deposit?
The 10% deposit is paid when you sign the Private Purchase Contract (Contrato de Arras), which is a legally binding agreement that occurs after the initial reservation period and due diligence.

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