Reserva, arras and the deed: the difference explained

You've seen a house in the Marina Alta and you want to buy it. What follows is a process with a few fixed steps. For people going through this for the first time, the reserva, the arras and the deed tend to blur together. They belong together, but they are not the same thing. Here is how they break down.

The reserva

The reserva is the first step. You put down an amount, usually a few thousand euros, to take the property off the market temporarily. The seller stops showing it to other buyers, and you get time to sort things out: a building survey, a mortgage application, a conversation with a lawyer.

The reserva is not a purchase contract. It's an agreement between buyer and seller, put in writing, stating the intention to move forward. What happens if one of the parties pulls out depends on what's written in that document. That's why it's worth having a lawyer check it before you sign, even though it feels like a small step.

At TREE, the building survey often happens during this phase. We walk through the property with our surveyor and give you a general idea of any repair costs. That way you know what you're taking on before you go further.

The arras contract

After the reserva usually comes the arras contract, in Spanish the contrato de arras. This is a genuine private purchase contract between buyer and seller. It sets out the price, the completion date, what is and isn't included in the sale, and what happens if either party backs out.

There are different types of arras contracts, each with different consequences if the purchase falls through. This is the moment your lawyer goes through the contract line by line. It's also usually when you pay a larger part of the price upfront, often around ten percent, though that varies and is something you agree with the seller.

Once the arras is signed, you're bound to each other in the way the contract describes. This is not a stage to rush through. At TREE we see that buyers who take their time here end up with fewer surprises later.

The deed at the notary

The final step is the escritura, the deed signed at the notary. This is where ownership officially changes hands. Buyer and seller, or their representatives, sign together with the notary. The remaining balance is paid, the keys change hands, and the deed is registered at the land registry.

In Spain, the notary doesn't negotiate on your behalf, unlike in some other countries. The notary checks that everything follows the law and that the documents are correct. For your own interests, such as the content of the contract or tax implications, you still need a lawyer.

On the day of the deed, it also becomes clear whether everything agreed in the arras has been honoured: is the house empty as agreed, are charges and taxes settled, does the inventory match. So the period between arras and deed isn't just waiting, it's checking.

Why the order matters

Each step carries a different weight, and that weight grows as you move further along.

The reserva is light and temporary. The arras is binding and carries financial consequences if the deal falls through. The deed is final and legal. Understanding this order also tells you when each kind of advice is needed: the building survey belongs early on, the lawyer belongs at the arras stage, and the notary closes things off.

At TREE we guide this process across the Marina Alta, from Dénia to Calpe and inland around Jalón and Orba. We work with our own surveyor and architect for the technical side, and with Sani-Kitchen Projects if you want to renovate after buying. The full design and detailed budget for a renovation come after the purchase, but you already get a first indication during the survey.

If you're considering a house in this area, it helps to keep these three steps clear in your mind. They resemble each other, but they are not interchangeable.