What is a contrato de arras in Spain?

Contrato de arras is a reservation agreement between the buyer and seller of a property where key terms of the purchase are agreed upon.

In combination with the arras signing, the buyer also agrees to pay an initial reservation fee that is usually between 5-10% of the purchase price. 

The contract outlines the fundamentals of the purchase and sale, including:

Learn why you need a Contrato de Arras when buying property in Spain and how this agreement protects your interests and simplifies the buying process.