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

Your Marbella property offer has been accepted.

It is an exciting moment.

But it is important to understand what that moment actually means.

An accepted commercial offer does not normally mean you simply transfer the remaining purchase price and collect the keys.

There are still several important stages between:

“The seller accepts your offer.”

and

“The property is yours.”

Depending on the transaction, those stages may include:

• reservation;

• legal due diligence;

• mortgage valuation and approval;

• private purchase contract;

• preparation of funds;

• notarial completion;

• registration and post-completion administration.

For international buyers, understanding what happens next can remove much of the uncertainty from the process.

The most important principle is simple:

once your offer is accepted, preparation should become more disciplined — not less.

Step 1: Confirm Exactly What Has Been Agreed

Before moving forward, make sure the commercial agreement is clear.

This may include:

• purchase price;

• property;

• parking;

• storage;

• furniture;

• completion timing;

• financing conditions;

• other material conditions.

Do not assume that something discussed during a viewing automatically forms part of the purchase.

If the seller agreed to include:

• outdoor furniture;

• designer lighting;

• gym equipment;

• specific artwork;

• additional storage;

that should ultimately be documented appropriately.

An Accepted Offer Is a Major Milestone — But Read the Wording

Buyers sometimes think:

“Nothing matters legally until the reservation is signed.”

That is too simplistic.

Spanish contract law recognises the importance of agreement between parties, and the legal effect of an offer and acceptance depends on the wording and circumstances.

This does not mean every casual WhatsApp exchange automatically completes a property sale.

It does mean buyers should communicate carefully.

For a detailed guide to structuring the offer itself, see Making an Offer on a Property in Marbella: What Buyers Should Know.

Step 2: Appoint or Notify Your Independent Lawyer

If you have not already appointed a Spanish lawyer, this is the moment to do it.

Ideally, the lawyer should actually be selected before you make a serious offer.

Once the offer is accepted, speed becomes more important.

The buyer's independent lawyer can begin reviewing:

• reservation documentation;

• ownership;

• Land Registry information;

• charges;

• community documentation;

• planning or licence issues;

• contractual terms.

The lawyer should act for you, not simply for the seller, developer or estate agent.

Estate Agent and Lawyer Have Different Roles

The estate agent can coordinate the commercial transaction.

This may include:

• negotiation;

• reservation logistics;

• seller communication;

• document coordination;

• completion planning.

The lawyer handles legal analysis.

These roles complement one another.

They should not be confused.

Step 3: Reservation Agreement

In many Marbella transactions, an accepted offer is followed by a reservation agreement.

The purpose is commonly to:

• document the commercial agreement;

• secure the property for a defined period;

• give the buyer time to complete initial legal checks.

The buyer normally pays a reservation amount.

The amount varies.

There is no universal statutory Marbella reservation deposit.

Before Paying the Reservation

Understand:

How much am I paying?

Who receives the money?

How long is the property reserved?

Under what circumstances is it refundable?

What happens if legal due diligence identifies a serious problem?

What happens if I cannot obtain financing?

Those questions should be answered before the transfer.

For the detailed distinction between reservation and the later contract stage, see Reservation Contract vs Private Purchase Contract in Spain.

Reservation Does Not Automatically Mean Refundable

This deserves repeating.

The fact that a document is called a reservation does not automatically mean the buyer can change their mind and recover the money.

The contractual wording matters.

Similarly, a reservation is not automatically non-refundable in every circumstance.

The actual agreement determines the position.

Step 4: Property Comes Off the Market

Where the reservation terms provide for it, the seller may remove the property from active marketing for the agreed reservation period.

This gives the buyer time to progress the transaction.

However, the buyer should understand exactly:

• when exclusivity starts;

• how long it lasts;

• what conditions apply.

Do not rely simply on the verbal statement:

“The property is now yours.”

The documentation should explain what has actually been agreed.

Step 5: Legal Due Diligence Begins

This is one of the most important stages after the accepted offer.

The lawyer investigates whether the property can be purchased in the condition and legal form the buyer expects.

Depending on the property, checks may include:

• registered ownership;

• mortgages;

• embargoes or other charges;

• cadastral information;

• IBI;

• community debts;

• community rules;

• registered areas;

• planning documentation;

• extensions;

• licences;

• occupancy-related documentation.

The precise scope depends on the property.

For a complete guide, see Property Due Diligence in Marbella: What Your Lawyer Should Check.

Apartment Due Diligence

For an apartment, due diligence may focus particularly on:

• title;

• charges;

• community debts;

• parking and storage;

• community documentation;

• applicable restrictions.

Community minutes can be especially useful because they may reveal:

• major repairs;

• disputes;

• planned extraordinary charges.

A seller being current with their own community fees does not necessarily mean the community has no upcoming expensive projects.

Villa Due Diligence

Villa transactions can require deeper investigation.

Questions may arise around:

• plot;

• registered built area;

• extensions;

• pools;

• guest houses;

• basement conversions;

• planning status.

This is why two properties at the same price can require very different legal work.

Step 6: Technical Inspection Where Appropriate

Legal due diligence does not establish the physical condition of the building.

For certain properties, the buyer may also commission a technical inspection.

This is particularly relevant for:

• older villas;

• heavily renovated villas;

• properties showing signs of damp;

• complex luxury estates.

Technical specialists may look at matters such as:

• structure;

• roof;

• waterproofing;

• electrical systems;

• plumbing;

• climate systems;

• pool;

• drainage.

For older homes, see Buying an Older Villa in Marbella: What to Check Before Making an Offer.

Renovated Villas Need Checking Too

A property can look completely new without being technically new.

If you are buying a renovated villa, verify what actually changed.

Was the renovation:

cosmetic

or

comprehensive?

For this specific issue, see Buying a Renovated Villa in Marbella: What Should You Verify?.

Step 7: Mortgage Process Continues

If you require mortgage financing, this process should ideally already be underway.

After the offer is accepted, the bank will normally need information about the selected property.

This can include:

• purchase details;

• Land Registry information;

• property valuation.

The lender also continues reviewing the borrower.

Mortgage Pre-Assessment Is Not Final Approval

A bank may previously have indicated that financing appears feasible.

That is useful.

It is not necessarily final approval.

Final lending can depend on:

• borrower documentation;

• underwriting;

• property valuation;

• property acceptability.

This is why financed buyers should avoid treating a preliminary estimate as guaranteed money.

What If the Bank Valuation Is Low?

Imagine:

Purchase price:

€1,500,000

Expected mortgage:

€900,000

But the valuation results in the lender approving only:

€800,000

The buyer may need an additional:

€100,000 cash

unless another financing solution is available.

The seller does not automatically have to reduce the purchase price because the lender's valuation is lower.

This risk should be understood before substantial non-refundable commitments are made.

For international financing, see Buying Property in Marbella With a Mortgage as a Non-Resident.

Step 8: Resolve Due-Diligence Questions

Not every legal question means the property is problematic.

Your lawyer may identify something requiring:

• additional documentation;

• correction;

• seller clarification;

• contractual protection.

Examples might include:

• an existing mortgage to be cancelled;

• minor registry discrepancy;

• outstanding certificate;

• community documentation still to be obtained.

The issue needs to be understood before progressing.

What If Due Diligence Finds a Serious Problem?

Possible responses depend on:

• problem;

• reservation agreement;

• negotiation;

• legal position.

The transaction might:

• proceed after seller resolves it;

• be renegotiated;

• be delayed;

• end where the buyer has the contractual right to withdraw.

The answer is property-specific.

This is why refund conditions should be discussed before paying the reservation rather than after a problem appears.

Step 9: Private Purchase Contract

Once the buyer is satisfied with the relevant checks and the transaction is ready to progress, the parties commonly enter a more detailed private purchase agreement.

This may set out:

• parties;

• property;

• purchase price;

• amounts already paid;

• further deposit;

• completion date;

• furniture;

• obligations;

• default consequences.

At this stage, the buyer is normally becoming substantially more financially committed.

How Much Is Paid at Private Contract?

Many Spanish property transactions involve a total deposit around 10% of the purchase price at this stage.

But this is not a universal statutory rule.

The amount can vary.

For example:

Purchase price:

€1,000,000

Reservation already paid:

€10,000

Agreed total payment at private contract stage:

€100,000

Additional payment:

€90,000

But every transaction must be read from its actual agreement.

Arras: Do Not Make Assumptions

Buyers often hear:

“You pay 10%. If you cancel, you lose it. If the seller cancels, they return 20%.”

That can describe one type of properly agreed arras structure.

It is not an automatic rule applying to every property deposit.

Different contractual deposits can have different legal consequences.

The agreement should make the intended structure clear.

Step 10: Completion Date Is Fixed

The private agreement commonly establishes when completion will occur.

This can be:

• relatively soon;

• several weeks later;

• several months later.

The timetable may depend on:

• mortgage;

• seller relocation;

• property documentation;

• buyer funds.

Do not agree an unrealistically short completion period simply to appear like a stronger buyer.

Step 11: Prepare Your NIE

Foreign property buyers generally need an NIE.

If you do not already have one, the process should ideally have started earlier.

Leaving it until just before completion can create unnecessary stress.

Your lawyer may be able to coordinate this depending on your circumstances and authorisation.

Step 12: Prepare Source-of-Funds Documentation

International property transactions involve anti-money-laundering compliance.

You may need to demonstrate where the purchase funds came from.

Possible sources include:

• savings;

• employment income;

• business income;

• investment sale;

• property sale;

• inheritance.

Prepare this documentation early.

A completely legitimate purchase can still be delayed if the bank or transaction professionals cannot obtain the necessary supporting documents quickly.

Step 13: Organise Currency Exchange

If your money is held outside the euro, currency movement can affect the effective purchase cost.

For example, buyers holding:

• GBP;

• USD;

• CHF;

• AED;

• SEK;

• NOK

may need to convert substantial amounts.

Do not leave currency planning until completion day.

For a multimillion-euro property, even a modest exchange-rate movement can represent a meaningful amount of money.

Step 14: Prepare the Completion Funds

Before notarial completion, the buyer's lawyer and bank help coordinate how the money will be paid.

The completion payment may involve:

• buyer equity;

• mortgage proceeds;

• settlement of seller mortgage where relevant;

• other agreed deductions.

The exact structure depends on the transaction.

The buyer should know before completion:

how much money is needed

and

where it needs to be available.

Remember the Purchase Costs

The completion budget is more than the balance owed to the seller.

Depending on whether the property is resale or qualifying new build, acquisition taxes differ.

For a standard resale property in Andalucía, the general ITP rate is currently 7%.

For a qualifying new residential first transfer, the structure generally includes 10% IVA and applicable AJD.

For the complete numbers, see How Much Does It Really Cost to Buy Property in Marbella?.

Step 15: Final Property Check

Where practical, a final pre-completion visit can be valuable.

The objective is to confirm matters such as:

• property remains in agreed condition;

• agreed furniture remains;

• significant damage has not occurred;

• property is ready for possession.

This is especially important where several weeks or months have passed since the original viewing.

Furniture Should Be Checked Against the Agreement

Marbella luxury homes are often sold furnished.

Do not rely on memory.

If certain furniture is material to the purchase, the contract or inventory should make that clear.

A final walkthrough can verify that what was agreed remains in place.

Step 16: Mortgage Buyers Complete Final Bank Formalities

Mortgage buyers have additional formal requirements before signing.

The bank must have completed:

• underwriting;

• property valuation;

• final offer;

• applicable mandatory pre-signing procedures.

The buyer should not assume everything can be arranged the day before the notary.

Mortgage completion requires planning.

Step 17: Signing at the Notary

The purchase is then formalised through the public deed before a Spanish notary.

The notary has an important neutral public role in the transaction.

The notary is not a substitute for the buyer's independent lawyer.

At completion, the parties execute the documentation and payments are made in accordance with the agreed structure.

Can You Complete Without Being in Marbella?

Potentially, yes.

Many international buyers use a power of attorney allowing their lawyer or authorised representative to act within the powers granted.

This can be particularly useful where buyers:

• live abroad;

• cannot coordinate travel;

• need flexibility around completion.

The power of attorney needs to be arranged correctly.

Do not leave it until the final moment.

Step 18: Keys

Once the purchase completes and possession is delivered under the transaction:

you receive the keys.

For many buyers, this is the emotional finish line.

Legally and administratively, however, some work still remains.

Step 19: Land Registry and Taxes

Following completion, the relevant purchase taxes need to be filed and the ownership documentation proceeds through the registration process.

Your lawyer or appointed professional normally coordinates this.

The buyer does not usually need to personally manage every administrative step.

Step 20: Change Utilities

After completion, arrange transfer or setup of:

• electricity;

• water;

• internet;

• other relevant services.

Do not assume every service automatically transfers simply because ownership changed.

Community Notification

For a property inside a community of owners, the new ownership should also be reflected appropriately with the community administration.

This helps ensure:

• fees;

• notices;

• meeting communications

reach the correct owner.

Insurance

Insurance should also be arranged in connection with ownership.

Mortgage lenders may have their own requirements where financing is involved.

Even cash buyers should ensure appropriate property insurance is in place.

Property Management

International owners who will spend substantial periods outside Spain should decide how the property will be managed.

Possible needs include:

• key holding;

• property checks;

• maintenance coordination;

• cleaning;

• pool and garden management;

• rental management.

Ideally, this should be considered before completion rather than after the owner has already flown home.

What Happens If the Seller Has a Mortgage?

This is common.

A seller can sell property that is subject to an existing mortgage.

The outstanding loan needs to be dealt with as part of the transaction.

Your lawyer coordinates with the relevant parties so that the mortgage position and cancellation process are properly addressed.

An existing seller mortgage is not automatically a problem.

An uncoordinated one is.

What Happens If the Property Has a Tenant?

The buyer must understand the occupancy position before becoming committed.

Do not assume that the seller can simply deliver vacant possession because that is what you want.

Where a tenancy exists, your lawyer should review it.

The purchase contract should clearly reflect the intended possession arrangements.

What Happens If the Seller Needs More Time to Leave?

This should be dealt with contractually.

Do not complete and then rely casually on:

“They will move out next week.”

If possession will occur later than legal completion, the arrangement needs appropriate legal advice and documentation.

For most lifestyle buyers, the cleanest scenario is receiving possession as contractually agreed at completion.

Cash Buyer: What Changes After Offer Acceptance?

Cash simplifies the transaction because there is:

• no mortgage underwriting;

• no bank valuation requirement for financing;

• no mortgage-signing process.

The buyer can potentially move more quickly.

But legal due diligence remains exactly as important.

Cash is not a reason to skip verification.

Mortgage Buyer: What Changes?

The transaction now has two parallel processes.

Property Purchase

Handled through:

• reservation;

• due diligence;

• purchase contract.

Financing

Handled through:

• lender assessment;

• valuation;

• underwriting;

• mortgage documentation.

Both need to arrive at completion at the same time.

Apartment Buyer: What Happens Next?

The buyer's lawyer will commonly focus on:

• registry;

• community;

• charges;

• parking/storage;

• relevant legal documentation.

Technical inspection may be relatively limited unless the property or building raises concerns.

Villa Buyer: What Happens Next?

The process may involve more extensive checks.

Potential issues include:

• plot;

• pool;

• extensions;

• guest buildings;

• basement;

• planning.

A technical inspection may also be sensible.

The higher the complexity, the more important it is not to set an artificially short deadline.

New-Build Buyer: What Happens After the Offer?

New build follows a different process.

A buyer may proceed from:

• reservation;

• developer contract;

• stage payments;

• construction;

• snagging;

• completion.

For the full process, see New Build Property in Marbella: Complete Buyer’s Guide 2026/2027.

Off-Plan Buyer: There May Be Years Before the Keys

For an off-plan property, an accepted offer or reservation may only be the beginning of a long construction timetable.

The buyer should understand:

• payment schedule;

• guarantees;

• delivery framework;

• financing plan.

See Buying Off-Plan Property in Marbella: Risks, Guarantees & Timeline.

How Long From Offer Accepted to Keys?

For a relatively standard Marbella resale transaction, buyers often work with a timeframe measured in weeks rather than months or years.

But there is no universal legal deadline.

The timeframe depends on:

• legal complexity;

• financing;

• seller needs;

• documentation;

• buyer readiness.

The most useful principle is:

move as quickly as the transaction safely permits.

Not:

complete as quickly as physically possible.

What Can Speed Up the Process?

Before your offer is accepted, ideally have:

• lawyer appointed;

• financing assessed;

• NIE underway;

• proof of funds available;

• source-of-funds documentation organised.

Then once the seller says yes, the professionals can begin immediately.

What Can Delay the Process?

Common delays include:

• incomplete seller documents;

• mortgage underwriting;

• valuation;

• planning questions;

• legal discrepancies;

• international bank compliance;

• several sellers;

• inheritance;

• late NIE application.

Many delays can be avoided through preparation.

Others are inherent in the property.

Can the Buyer Renegotiate After an Accepted Offer?

Potentially, but there should be a legitimate reason.

For example, due diligence might reveal:

• significant undocumented area;

• major technical problem;

• upcoming community assessment.

The buyer may decide the agreed price no longer reflects the property.

Whether and how renegotiation works depends on:

• stage;

• contract;

• seller position.

An accepted offer should not be treated as an invitation to invent reasons to reduce the price later.

Should You Keep Viewing Other Properties?

This depends on the stage and reservation structure.

Once you have knowingly committed to a property and it is satisfactorily progressing, continuously searching for alternatives can create unnecessary uncertainty.

However, until the transaction is genuinely secured and major risks are understood, buyers should remain realistic about their contractual position.

The estate agent and lawyer can clarify where the process currently stands.

Common Mistakes After Offer Acceptance

Celebrating Before Reading the Reservation

The excitement should not replace legal review.

Sending Money Too Quickly

Verify documentation and bank details.

Assuming Due Diligence Is a Formality

It is one of the central buyer protections.

Leaving Mortgage Work Until Now

Financing should ideally have started earlier.

Assuming the Deposit Is Always Refundable

The contract decides.

Leaving NIE Until Completion Week

Start early.

Ignoring Source-of-Funds Documentation

Bank compliance can delay large transfers.

Forgetting the Total Buying Costs

Keep enough liquidity for taxes and transaction costs.

Assuming Furniture Is Included

Document it.

Booking Flights Around an Unconfirmed Completion Date

Wait until the professionals confirm that completion is genuinely ready.

After Offer Acceptance Checklist

Once the seller accepts your Marbella property offer:

confirm the commercial terms

notify your independent lawyer

review reservation documentation

verify payment instructions

start or continue legal due diligence

arrange technical inspection where appropriate

continue mortgage process if required

prepare NIE

prepare source-of-funds evidence

review private purchase contract

confirm completion date

prepare final funds

arrange final property check

complete at the notary

receive the keys

complete post-purchase administration

A well-organised transaction should move through these steps logically.

What Happens After Your Offer Is Accepted? Final Buyer Perspective

An accepted offer feels like the moment you have bought the property.

In reality, it is the moment the serious purchase process begins.

The buyer now needs to move from:

interest

to

verification

and then from:

verification

to

contractual commitment.

The strongest transaction is one where the buyer remains organised through every stage.

That means understanding:

• what has been agreed;

• what still needs to be checked;

• when money becomes committed;

• how financing fits;

• when the seller must complete;

• when possession will be delivered.

Do not allow excitement to replace discipline.

But do not allow unnecessary bureaucracy to make a good transaction feel frightening either.

With the right preparation, the process is logical.

From Accepted Offer to Keys With EQUA Estates

EQUA Estates works with international buyers throughout the Marbella acquisition process.

After an offer is accepted, our buyer-side coordination can include:

• communication with the seller or selling agency;

• reservation coordination;

• document follow-up;

• commercial transaction management;

• mortgage coordination where relevant;

• coordination with the buyer's independent lawyer and technical professionals;

• completion logistics.

The specialist professionals remain responsible for their respective legal, financial and technical advice.

Our role is to help keep the transaction coherent from the moment the seller says:

“Offer accepted.”

until the moment the buyer receives the keys.

Because agreeing the price is an important milestone.

Completing the purchase correctly is what turns that agreement into ownership.