Guide
Reservation Contracts Explained
A reservation contract is often the first document a buyer is asked to sign, usually alongside a deposit that takes the property off the market.
Because it is signed early, it is frequently the point where a buyer commits before checks have been carried out.
What a Reservation Contract Typically Contains
- The agreed price and reservation deposit amount
- A timeframe within which the private purchase contract must be signed
- What happens to the deposit if the buyer or seller withdraws
- Any conditions attached to the reservation, such as further checks still to be completed
Why Timing Matters
Because a reservation contract is often signed before due diligence is complete, some buyers ask for it to include conditions — for example, making the reservation dependent on satisfactory checks being carried out within a set period. See Due Diligence in Spain for what those checks typically cover.
If you're about to sign a reservation contract and haven't yet involved a lawyer, this is usually the point to do so — a reservation, once signed, can be harder to unwind than to review beforehand. Find a Property Lawyer.
The next stage after a reservation is usually the Private Purchase Contracts Explained.
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.