Step 3 – Signing the Preliminary Purchase Agreement & Financing Your Property

To launch your property search efficiently, we need the following documents:

In Spain, any deposit paid during a reservation or preliminary agreement is non-refundable.

These agreements are legally binding, which is why it’s essential to clearly define all terms at the time of signing:

• Furniture or appliances included in the sale

• Any renovations agreed upon with the seller

• Exact handover and notary signing dates

• Any other conditions you consider important

Once signed, the agreement is final.
Changing the terms afterward is often complex, expensive, or simply impossible.

This contract forms the legal foundation of the transaction, providing clarity and security for both buyer and seller.

Make sure that all decision-makers are present during the visits.
The Spanish market moves quickly — if a decision is delayed, the opportunity might be lost.

This step must be anticipated early on with your bank to ensure a smooth process.

If you are not paying in full cash:

• Please inform us in real time about your financing status

• Share any updates or changes regarding your mortgage application

These updates are crucial to prevent delays or financial losses — especially once you’ve signed a reservation.

Important:
Spanish contracts do not include a mortgage contingency clause by default.
If your loan is denied and no such clause was negotiated in advance, you risk losing your deposit.

It’s essential to have your financing solution in place before committing.

In Spain, all payments are made directly to the seller’s bank account.

No worries — this process is protected by Spanish law and strengthened by our legal due diligence, including:

• Full verification of the seller’s identity, the property, and the bank details

• Legal check of the property title and any debts or encumbrances

However, it is absolutely essential to respect all agreed payment deadlines, including those in:

• The reservation or preliminary agreement

• The notary signing appointment

In case of late payment or non-payment, the seller is legally entitled to:

• Cancel the sale, and

• Keep the deposit already paid, in accordance with Spanish law