What Happens After Your Offer Is Accepted on a Property in Marbella?

What Happens After Your Offer Is Accepted on a Property in Marbella?

Having an offer accepted on a Marbella property is exciting.

But it is not the end of the negotiation process.

In many ways, it is the beginning of the actual transaction.

From this point, the buyer moves from searching and negotiating into a process involving:

• reservation;

• legal due diligence;

• contracts;

• deposits;

• financing;

• notary completion;

• taxes;

• registration.

For international buyers, understanding what happens next can make the process considerably less stressful.

The key is to know when you are simply agreeing commercial terms and when you are making a binding financial commitment.

Step 1: Confirm the Agreed Terms in Writing

Once the seller accepts the offer, the commercial terms should be clearly documented.

These normally include:

• property;

• agreed price;

• reservation amount;

• deposit structure;

• financing conditions if any;

• target completion date;

• furniture or contents;

• other important conditions.

Do not rely solely on verbal conversations.

A clear written record reduces the risk of different interpretations later.

Price Is Only One Part of the Agreement

Buyers sometimes focus exclusively on the accepted price.

But other terms can be equally important.

For example:

Will the villa be sold furnished?

When must completion occur?

Is the purchase conditional on mortgage approval?

Does the seller need additional time to vacate?

Are specific repairs included?

The offer should be understood as a package of commercial terms.

Step 2: Appoint Your Independent Lawyer

If you have not already appointed a Spanish lawyer, this should become an immediate priority.

The buyer's lawyer represents the buyer's interests.

The lawyer may coordinate matters including:

• legal due diligence;

• contracts;

• Land Registry checks;

• community documentation;

• planning information;

• completion;

• taxes.

The estate agent facilitates the transaction but does not replace independent legal representation.

Buyer’s Lawyer vs Seller’s Lawyer

These roles are different.

The seller's lawyer acts for the seller.

The buyer's lawyer acts for the buyer.

The notary is a neutral public official.

Keeping these roles separate helps international buyers understand who is responsible for protecting their individual position.

Step 3: Reservation Agreement

In many Marbella transactions, the next step is a reservation agreement.

The buyer pays an agreed reservation amount and the seller agrees to remove or temporarily withdraw the property from active marketing according to the agreed terms.

The reservation gives the buyer's lawyer time to begin legal checks.

What Should the Reservation Agreement Say?

At minimum, the buyer should understand:

• exact property being reserved;

• agreed purchase price;

• reservation payment;

• who holds the payment;

• reservation period;

• refund conditions;

• next contractual deadline.

Any important financing or due-diligence condition should also be considered before signing.

Is a Reservation Agreement Mandatory?

No.

There is no universal requirement that every Spanish property transaction use one.

Some parties proceed directly to an arras or private purchase agreement.

The appropriate structure depends on the transaction.

Is the Reservation Deposit Always Refundable?

No.

This is one of the most important points buyers should understand.

Refundability depends on the document and circumstances.

Never assume that a payment called a “reservation” can automatically be recovered.

Read the contractual terms before transferring money.

Step 4: The Property Is Taken Off the Market

Where the reservation agreement provides for this, the seller normally suspends active marketing during the agreed reservation period.

The exact meaning should be clear.

Does this mean:

• no more advertising?

• no more viewings?

• no other offers considered?

These are commercial matters that should be addressed in the agreement rather than assumed.

Step 5: Legal Due Diligence Begins

This is one of the most important stages.

The Junta de Andalucía recommends checking the Property Registry before formalising the purchase to verify the property description, registered ownership and charges.

Your lawyer may also investigate:

• mortgages;

• embargoes;

• easements;

• community debts;

• IBI;

• licences;

• planning position;

• legal status of extensions.

The depth of review depends on the property.

The Nota Simple

A current Land Registry document is normally obtained to confirm the basic registered position.

The lawyer checks whether:

• the seller is the registered owner;

• mortgages exist;

• other charges appear;

• registered information corresponds with the property being sold.

This is a fundamental part of due diligence.

Step 6: Check Community Fees

For property within a community of owners, the buyer should verify whether community charges are current.

This is particularly relevant for:

• apartments;

• penthouses;

• townhouses;

• villas within urbanisations.

The Junta de Andalucía specifically recommends checking the seller's community payment position before purchase.

Step 7: Check IBI

The seller's municipal property-tax position should also be reviewed.

The latest IBI receipt is useful for two reasons:

1. confirming payments are current;

2. showing the buyer an important ongoing ownership expense.

The Junta also advises buyers to verify that the seller is up to date with IBI.

Step 8: Planning and Licence Checks

These checks can be particularly important for villas.

Your lawyer may investigate whether the physical property corresponds with:

• Land Registry;

• Cadastre;

• relevant licences;

• approved plans.

Issues may arise around:

• enclosed terraces;

• guest houses;

• basement conversions;

• pools;

• additional rooms.

A property being physically complete does not necessarily answer every planning question.

Step 9: Technical Inspection Where Appropriate

Legal due diligence does not tell you whether the roof leaks or the pool equipment is failing.

For certain properties, especially older or renovated villas, buyers may also commission:

• architect inspection;

• technical survey;

• structural assessment.

This is separate from legal due diligence.

Step 10: Mortgage Process Continues

If financing is required, mortgage preparation should progress in parallel.

The buyer may need:

• income documentation;

• tax returns;

• bank statements;

• proof of funds;

• property valuation.

International buyers may face additional compliance and documentation requirements.

Do Not Assume the Mortgage Is Final Until It Is Final

An early indication from a bank is not necessarily the same thing as full approval.

The bank may still require:

• valuation;

• underwriting;

• final documentation.

If the purchase depends on financing, the contractual structure should address that risk appropriately where agreed by the parties.

Step 11: Private Purchase Agreement or Arras

Once the legal position is sufficiently understood, the transaction normally progresses to a more substantial contract.

This might be:

• an arras agreement;

• private purchase contract;

• another agreed contractual structure.

The Junta de Andalucía describes an arras contract as a private pre-contract through which money is delivered as security for the purchase and later deducted from the final price.

The Deposit

The buyer may increase the amount paid at this stage.

A commonly encountered structure brings total payments to around 10% of the purchase price, although this is not a universal statutory rule for every transaction.

The actual amount is whatever the parties agree and document.

The Reservation Payment Usually Counts Toward the Price

Imagine:

Purchase price: €2,000,000

Reservation payment: €10,000

Agreed total deposit: €200,000

The buyer may then pay an additional €190,000 so total payments toward the purchase reach €200,000.

The remaining amount is paid later according to the contract.

This is only an illustrative example.

Understand What Type of Deposit You Are Paying

Spanish property agreements can use different types of arras.

The Junta de Andalucía distinguishes:

• confirmatory arras;

• penitential arras;

• penal arras.

These do not necessarily create the same consequences if the buyer or seller fails to proceed.

The lawyer should explain the actual agreement being signed.

Step 12: Completion Date Becomes Clear

The private contract usually establishes a completion deadline or specific completion date.

This gives both parties time to prepare.

The buyer may need to arrange:

• financing;

• international transfers;

• NIE;

• power of attorney;

• insurance.

The seller may need to:

• vacate;

• cancel mortgage debt;

• gather final documentation.

Step 13: Seller’s Mortgage Is Dealt With

A seller having an existing mortgage is common and does not necessarily prevent the transaction.

The buyer's advisers should understand:

• outstanding balance;

• cancellation process;

• how sufficient funds will be applied at completion.

The Junta's seller guidance specifically identifies mortgage debt certificates and registry cancellation issues as relevant sale documentation.

Step 14: Final Financial Statement

Before completion, the buyer should receive or understand the final transaction figures.

These can include:

• purchase balance;

• taxes;

• legal fees;

• notary costs;

• registration costs;

• mortgage-related costs where applicable.

The Junta recommends reconciling exact figures with the seller and financial institution before attending the notary so last-minute problems do not arise.

Step 15: Arrange the Completion Funds

International buyers should not leave large transfers until the final moment.

Banks can request:

• source-of-funds information;

• supporting documents;

• additional compliance checks.

Large international transfers can also take time.

Prepare these arrangements well before the notary date.

Currency Buyers Need Extra Planning

Buyers holding funds in:

• GBP;

• USD;

• CHF;

• AED;

• SEK;

• NOK

also need to consider exchange rates.

A small currency movement on a multimillion-euro transaction can materially change the real cost.

Step 16: Power of Attorney if You Cannot Attend

International buyers frequently complete through their lawyer using an appropriate power of attorney.

This can be useful if the buyer cannot remain in Spain or return on the completion date.

The exact powers should be agreed with the lawyer and correctly documented.

Step 17: Review the Draft Deed

Before completion, the buyer's legal team should review the public deed.

The Junta de Andalucía advises purchasers to read the draft carefully before signing and request corrections where necessary.

By this stage, there should be no major commercial surprises.

Step 18: Final Property Check

A final inspection shortly before completion can be useful.

Check that:

• property condition is as expected;

• agreed furniture remains;

• significant damage has not occurred;

• seller has vacated where required.

For new builds, this stage may include a more formal snagging process.

Step 19: Completion at the Notary

Completion normally takes place through signing the public deed of sale.

This is the central transaction moment.

The Junta de Andalucía describes signing the escritura as the point at which the total price is settled and keys are normally delivered to the buyer.

What Happens at Completion?

Depending on the transaction:

• parties or representatives attend;

• deed is reviewed and signed;

• outstanding price is settled;

• agreed debt cancellation is handled;

• possession transfers;

• keys are delivered.

The buyer becomes the new owner under the agreed transaction structure.

Step 20: You Receive the Keys

For most buyers, this is the emotional finish line.

But administratively, there is still work to do.

After receiving the property, matters may include:

• utilities;

• community registration;

• insurance;

• alarm;

• internet;

• property management.

Step 21: Purchase Taxes

The relevant acquisition taxes must then be processed.

Tax treatment depends on whether the property is:

• resale;

• qualifying new-build first transfer.

Your lawyer or tax adviser should calculate the transaction-specific amount.

Step 22: Land Registry

After completion and tax formalities, the deed proceeds to the Property Registry for registration.

The public deed provides the formal basis for registering the new ownership.

This creates public registry protection and evidence of the buyer's registered title.

Buying a Resale Apartment: Typical Flow

A relatively straightforward transaction might look like:

Offer accepted

↓

Reservation

↓

Legal due diligence

↓

Private contract / arras

↓

Mortgage preparation if applicable

↓

Notary completion

↓

Taxes

↓

Land Registry

Buying a Villa: Additional Steps

A villa may require deeper review.

Add potential:

• planning checks;

• architectural review;

• technical inspection;

• extension verification.

The transaction should therefore not be rushed simply because the seller accepted the price.

Buying New Build: Different Process

An off-plan transaction can extend over a much longer period.

After reservation and contract signing, buyers may have:

• stage payments;

• construction updates;

• guarantee documentation;

• snagging;

• final completion.

The finished property may not be delivered for months or years.

What If Due Diligence Finds a Problem?

This depends on:

• nature of the issue;

• contractual stage;

• reservation terms.

Possible outcomes include:

• seller rectifies the problem;

• additional documentation is supplied;

• terms are renegotiated;

• buyer accepts after legal advice;

• transaction ends.

Do not automatically assume every discrepancy means the property cannot be purchased.

Equally, do not assume every problem can safely be ignored.

What If the Seller Changes Their Mind?

The consequences depend on the agreements already signed.

An informal accepted offer is very different from a signed private contract with deposits.

The applicable contract determines the parties' rights and remedies.

What If the Buyer Changes Their Mind?

Again, this depends on the contractual stage.

After a substantial binding deposit has been paid, simply deciding not to purchase can have serious financial consequences.

Before signing, understand exactly what happens if you do not complete.

What If Another Buyer Makes a Higher Offer?

Before a binding reservation or private agreement is in place, this can become commercially relevant.

Once contractual obligations exist, the situation changes.

This is one reason buyers should clearly understand what the reservation agreement actually requires from the seller.

Do Not Panic After Offer Acceptance

Buyers sometimes believe they need to transfer large amounts immediately or risk losing the property.

There may indeed be deadlines.

But every payment should correspond to a clear agreement.

You should know:

• why you are paying;

• who receives the funds;

• whether they are refundable;

• what happens next.

The Transaction Should Become More Certain at Each Stage

A well-structured purchase moves progressively from uncertainty toward certainty.

Offer

Commercial intention.

Reservation

Property secured under agreed terms.

Due Diligence

Legal position investigated.

Private Contract

Transaction obligations formalised.

Completion

Ownership transfers.

Each stage should clarify the transaction rather than create new uncertainty.

What Should the Buyer Do Immediately After Acceptance?

The practical priority list is:

1. confirm terms in writing;

2. involve your lawyer;

3. review the reservation;

4. begin due diligence;

5. progress financing;

6. prepare NIE and funds;

7. do not sign the main contract until you understand the legal position.

Documents Buyers May Need

International buyers may be asked for:

• passport;

• NIE;

• address information;

• marital-status information;

• proof of funds;

• source-of-funds documentation;

• mortgage documents.

The exact requirements depend on the transaction and buyer.

Proof of Funds

A seller may want evidence that the buyer can complete, especially for large purchases.

Banks, lawyers and notaries may also require financial documentation for compliance purposes.

Prepare this early.

Source of Funds

Spanish anti-money-laundering procedures can require buyers to explain where purchase funds originate.

Documentation might relate to:

• savings;

• business income;

• investment proceeds;

• property sale;

• inheritance.

A large transaction is easier when the documentary trail is organised.

Do You Need a Spanish Bank Account?

Transaction structures vary.

Your lawyer and bank can advise whether a Spanish account is needed or practically preferable for your particular purchase and ongoing ownership costs.

For future ownership, local direct debits can simplify payments such as utilities and community fees.

After Completion: Change Utilities

Once you own the property, arrange transfer or setup of:

• electricity;

• water;

• internet;

• other services.

Your lawyer, gestor or property manager may assist depending on the services agreed.

Notify the Community

For property within an owners' community, the new owner should ensure the community administrator has the correct contact and payment information.

This prevents:

• unpaid fees;

• missed notices;

• communication problems.

Arrange Insurance

Insurance should be in place appropriately for the property.

A villa may require different coverage from an apartment.

Mortgage lenders may also have insurance-related requirements.

Security

For second-home buyers, completion is also a good moment to review:

• alarm;

• locks;

• cameras;

• key holding.

Do not assume the previous owner's security setup should simply continue unchanged.

Property Management

International owners who will spend significant time abroad may benefit from organising:

• key holding;

• routine inspections;

• pool maintenance;

• garden maintenance;

• cleaning;

• repair coordination.

This can be arranged before or immediately after completion.

The Biggest Mistake After an Offer Is Accepted

The biggest mistake is assuming:

“The property is mine now, so the difficult part is finished.”

It is not.

Offer acceptance establishes the commercial basis.

The transaction becomes secure only as the legal and contractual stages progress.

The Best Buyers Prepare Before They Offer

The smoothest transactions usually involve buyers who already have:

• lawyer;

• financing plan;

• proof of funds;

• NIE process underway;

• realistic completion expectations.

Preparation lets you move quickly without abandoning due diligence.

From Accepted Offer to Marbella Homeowner

The journey after offer acceptance can be summarised simply:

Agree the commercial deal.

Secure the property.

Verify what you are buying.

Formalise the contract.

Prepare funds and financing.

Complete at the notary.

Register and organise ownership.

EQUA Estates works with international buyers throughout this commercial process across Marbella, Benahavís, Estepona and the Costa del Sol, coordinating with each client's independent lawyer, mortgage adviser and technical professionals.

If your offer has been accepted on a Marbella property, the next objective is not simply to move quickly.

It is to move efficiently while making sure every step brings you closer to a secure and properly understood purchase.