Guide
Private Purchase Contracts Explained
The private purchase contract is where price, payment schedule, completion date, and the consequences of either party not completing are usually agreed.
This is typically the first legally binding document in the transaction — distinct from the earlier reservation, which usually only takes the property off the market while checks are completed. Reservation Contracts Explained
What the Contract Usually Addresses
- Price and payment schedule — the agreed price and how and when it will be paid
- Completion date — the deadline by which the sale must be finalised before the notary
- Conditions — any requirements that must be met before completion, such as outstanding checks or documentation
- Deposit treatment — how any deposit is held and what happens to it if the transaction doesn't proceed
- Consequences of non-completion — what happens if either the buyer or seller fails to complete, including any penalties
The terms of this contract are often shaped by findings from due diligence carried out beforehand. Once signed, the next stage is typically completion and registration.
Reviewed by María Fernández López
Spanish Property Lawyer · 12+ Years Experience
Reviewed:
María Fernández López is a Spanish property lawyer with over 12 years of experience in real estate transactions on the Costa del Sol. She reviews guide content on this site for legal accuracy but does not represent Property Lawyer Marbella as a law firm and is not responsible for legal advice provided by independent law firms listed in the directory.
This page is general information about property law topics in Marbella. It is not legal advice, and Property Lawyer Marbella is not a law firm.