Contrato de Compraventa — Spanish Property Glossary

The contrato de compraventa is the private purchase contract between buyer and seller that sets out all the terms and conditions of a property sale in Spain. While the arras contract is a preliminary reservation agreement, the contrato de compraventa is a more detailed document that may serve as the definitive private agreement before the notary signing. It typically includes the full names and identification of both parties, a detailed property description including the referencia catastral, the agreed price and payment schedule, the completion date, a list of fixtures and fittings included, declarations about the property's legal status, and penalty clauses for breach. For new-build purchases from developers, this contract is particularly important as it details the specification, payment stages, completion timeline, bank guarantees for stage payments, and penalty clauses for delays. Your lawyer should review (or ideally draft) this contract to ensure your interests are protected. Key items to verify include that the seller declares the property free of charges, that community fees and IBI are paid up to date, and that the contract specifies who pays which closing costs.