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How to Make a Property Offer in Spain: Your Step-by-Step Guide

Buying Process · VestaLinks

How to Make a Property Offer in Spain: Your Step-by-Step Guide

Securing your dream Spanish property involves a clear, strategic offer process. As an international buyer, understanding each step is crucial for a successful transaction in 2026. This guide breaks down how to make a formal offer, from initial negotiation to securing your purchase, ensuring you navigate the Spanish real estate market with confidence.

10%
Reservation Deposit
Typically 10% of purchase price
6-8 weeks
Offer to Completion
Average timeline in 2026
€3,000-€6,000
Notary Fees Estimate
Varies by property value
10%
Purchase Tax (ITP)
Or 4% for new builds (IVA)
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 Spanish Property Offer Key Documents for Your Offer Typical Offer and Negotiation Timeline The Contrato de Arras Explained Costs Associated with Buying Property Step-by-step FAQ
By VestaLinks
Buying Process

Understanding the Spanish Property Offer

In Spain, making an offer typically starts with a verbal agreement, followed by a formal written offer. The key document is the 'contrato de arras' (deposit contract), which solidifies the deal and outlines terms. This legally binding agreement protects both buyer and seller, making it a critical step in the purchasing journey. Understanding the implications of this contract is vital before signing.
Understanding the Spanish Property Offer
Buying Process

Key Documents for Your Offer

To present a compelling offer and proceed smoothly, ensure you have essential documents ready. This preparation demonstrates seriousness and facilitates the legal process. Having these items in order minimizes delays and strengthens your position in negotiations during 2026.
Buying Process

Typical Offer and Negotiation Timeline

The process of making an offer and reaching an agreement can vary. Be prepared for a negotiation period. Once an agreement is reached, the formalization through the 'contrato de arras' typically occurs within 10-15 days.
StageDescriptionTypical Timeline
Initial OfferVerbal or informal written proposal1-3 days
NegotiationDiscussion of price and terms1-7 days
Reservation DepositSecuring the property temporarilyUpon agreement
Contrato de ArrasFormal deposit contract signedWithin 10-15 days
Buying Process

The Contrato de Arras Explained

This is the most critical document after your offer is accepted. The 'contrato de arras' is a private agreement where you, the buyer, pay a deposit (typically 10% of the purchase price) to the seller. This contract legally binds both parties. If you withdraw, you forfeit the deposit. If the seller withdraws, they must return double the deposit amount. Ensure your lawyer reviews this thoroughly.
The Contrato de Arras Explained
Buying Process

Costs Associated with Buying Property

Beyond the property price, several taxes and fees apply. Budgeting for these additional costs is essential for a realistic financial plan in 2026. These include taxes, legal fees, notary costs, and potential mortgage expenses.
Cost TypeEstimated Percentage/AmountNotes
Purchase Tax (ITP)10% of purchase priceFor resale properties
VAT (IVA)10% of purchase priceFor new builds
Notary Fees0.5% - 1.5% of purchase priceVaries by location and value
Land Registry Fees0.4% - 1.2% of purchase priceDepends on property value
Legal Fees1% - 1.5% of purchase pricePlus VAT, for your lawyer
Buying Process

Step-by-step

Make Your Offer

Submit a formal written offer, clearly stating price, terms, and conditions. Include an offer validity period.

Negotiate Terms

Be prepared to negotiate on price and any specific conditions with the seller through your agent or lawyer.

Sign Reservation Agreement

If applicable, sign a reservation agreement and pay a small deposit to take the property off the market briefly.

Sign Contrato de Arras

Pay the 10% deposit and sign the deposit contract, legally binding both parties to the sale.

Finalize Mortgage (if needed)

Secure your mortgage approval if you are financing the purchase through a loan.

Completion at Notary

Sign the public deed of sale (escritura) and pay the remaining balance at the notary's office.

Key Takeaways

  • Understand that a formal written offer precedes the binding 'contrato de arras'.
  • The 'contrato de arras' requires a 10% deposit and legally binds both buyer and seller.
  • Factor in additional costs like ITP/IVA, notary, and legal fees, typically adding 10-15% to the purchase price.
  • Engage an independent Spanish lawyer early in the process for expert guidance.
  • Ensure you have your NIE and a Spanish bank account ready before making an offer.
This information is for guidance purposes only and does not constitute legal or financial advice. Always consult with a qualified Spanish lawyer and financial advisor before making any property purchase decisions.

Frequently Asked Questions

What is the typical deposit required when making an offer in Spain?
When you sign the 'contrato de arras' (deposit contract), you will typically pay a deposit of 10% of the purchase price. A smaller reservation deposit might be paid earlier to temporarily secure the property.
How long does the property offer process usually take in Spain?
From initial offer to signing the 'contrato de arras' can take anywhere from a few days to two weeks, depending on negotiations. The entire purchase process, from offer acceptance to completion, averages 6-8 weeks in 2026.
Can I withdraw my offer after it's accepted?
Once the 'contrato de arras' is signed, withdrawing is difficult. If you withdraw, you will forfeit your 10% deposit. If the seller withdraws, they must return double the deposit amount.
What are the main taxes when buying a property in Spain?
For resale properties, you pay Purchase Tax (ITP), typically 10%. For new builds, you pay VAT (IVA) at 10% plus Stamp Duty (AJD). These are paid at completion.
Do I need a Spanish bank account to buy property?
Yes, a Spanish bank account is essential. All payments, including the deposit and the final balance, must be made through a Spanish bank account. You'll also need it for utility bills and community fees.
What is the role of a lawyer in the offer process?
A Spanish lawyer is crucial. They will conduct due diligence, review all contracts (including the 'contrato de arras'), advise on legal and tax implications, and ensure your interests are protected throughout the transaction.
Can I make an offer below the asking price?
Yes, making an offer below the asking price is common. Your offer should be based on comparable properties, the property's condition, and market conditions in 2026. Be prepared for negotiation.

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