What is the arras (deposit) contract — is it safe to sign?
The arras contract is Spain's deposit agreement: you pay a deposit — usually around 10% of the price — to reserve the property, and under the common 'arras penitenciales' (Art. 1454 of the Civil Code) either side may withdraw, with you forfeiting the deposit or the seller repaying it double.
It is a binding private contract, so it is safe to sign only once you have read the nota simple and are sure of the property. The exact consequences depend on which type of arras the contract names, so check that clause carefully.
Never sign and pay the arras before verifying ownership and charges — the deposit is real money at risk.
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Related questions
Sources: Código Civil, Art. 1454 (arras) — BOE.
General information for people buying property in Spain — not legal, tax or financial advice. Confirm the specifics for your purchase with a qualified professional.