Read the effect, not just the heading
A short reservation form can contain meaningful commitments. The name “reservation” does not tell you whether the seller must stop marketing, whether an offer still needs acceptance or what happens if the purchase fails. Read the complete document before making a payment. Identify the property, the agreed or proposed price, the parties signing and any conditions that must be met for the arrangement to take effect.
Follow the money
Ask whether the payment goes to the seller, an agent or another holder, and what authority that person has to receive it. Request a receipt identifying the amount, purpose and transaction. Check whether the money forms part of the purchase price or includes a separate fee. Confirm payment details through a trusted independent channel if they change. Keep the signed terms and payment evidence in the same purchase folder.
- Who is responsible for returning the money?
- Can any amount be retained as an agency charge?
Write down the exit conditions
List the uncertainties that matter before purchase: title, finance, inspection, planning or a missing document. Ask for clear terms explaining what happens if a specified issue is not resolved. A verbal assurance that the deposit is refundable leaves essential details open. Clarify the evidence required, how notice must be given and by when. Have the wording reviewed before signing rather than relying on the ability to negotiate later.
Define the next document and date
Ask what comes after the reservation and obtain that draft early. A later arras agreement or purchase contract should account clearly for the money already paid and any conditions still outstanding. Keep a calendar of document delivery and decision dates. If the seller has not signed, ask how and when acceptance will be evidenced. Avoid treating a payment alone as confirmation that every commercial term has been agreed. Ask whether the seller will provide a signed receipt or written acceptance of the terms.
Sources & further reading
Notariado — Initial home-buying guidance ↗BOE — Contract interpretation in a property reservation case ↗Editorial preview: professional legal review is pending. This guide provides general information and does not determine the legal position of a particular property.
Have a property in mind?
Start by organising its documents and the questions still to resolve.