Arras Contract · Contrato de Arras Penitenciales

The 10% deposit
that commits both sides.

Drafted

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Arras deposit

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Completion within

75 days

Property reference

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The parties

The Seller

[Seller name]

Owner of the property below.
NIE / DNI: [to be inserted]

The Buyer

[Buyer name]

Verified PocketLister buyer.
Passport / NIE: [to be inserted]

Drafted by the AI Pilot. This contrato de arras penitenciales is structured under Article 1454 of the Spanish Civil Code — the penalty model preferred by PocketLister counsel. The Buyer’s reservation deposit (clause 03 of the reservation contract) is credited against the arras line below.

The property

[Property line — populated from the Match Agreement once signed.]

Registro de la Propiedad: [reference to be inserted before signature]. Cadastral reference: [to be inserted]. Latest nota simple dated [date] annexed.

Terms

Purpose.

Both parties commit to complete the sale of the above property at the agreed price below, within the completion window. This contract supersedes the previously signed reservation contract.

Final sale price.

Final purchase price · agreed

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Final price agreed by the parties at arras stage. To be paid by the Buyer at escritura, less the arras deposit defined below.

Arras deposit.

Buyer pays on signature

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10% of the final sale price. Less the reservation deposit already paid in clause 03 of the reservation contract; the balance is paid by wire to the Seller’s nominated account within 48 hours of signature. The arras deposit applies as defined in Article 1454 of the Spanish Civil Code.

Penalty clauses.

If the Buyer withdraws without cause: the Buyer forfeits the full arras deposit to the Seller as liquidated damages.

If the Seller withdraws without cause: the Seller pays the Buyer twice the arras deposit as liquidated damages.

These penalties are the parties’ sole and exclusive remedy for a unilateral withdrawal during the completion window. Withdrawal due to a material title defect uncovered after signature is governed by clause 06.

Completion window.

The parties commit to sign the escritura pública de compraventa at the Marbella notary of the Buyer’s choice within seventy-five (75) days of signature of this contract. The Seller agrees to deliver the property in the same condition as at signature, with all included furnishings and fixtures as listed in Annex A.

Title due diligence & material defects.

The Seller represents that the title is free of encumbrances other than those disclosed in the nota simple annexed. If a material defect not previously disclosed is uncovered by the Buyer’s legal representative before escritura, the Seller has 30 days to cure it. If uncured, the Buyer may withdraw and the arras deposit is returned in full, without penalty to either side.

Buyer KYC & source of funds.

The Buyer agrees to provide the Spanish notary, before escritura, with the full source-of-funds packet prepared by PocketLister (clause 03 of the Match Agreement). The Buyer’s funds must be cleared and available no later than five (5) business days before the scheduled escritura date.

PocketLister’s role.

PocketLister is not party to this contract. PocketLister’s service obligations (AI deal copilot, document drafting, lawyer hotline, translation) continue until escritura. PocketLister’s fee under the Match Agreement is payable by the Seller on escritura, as defined in clause 04 of the Match Agreement.

Governing law.

This contract is governed by Spanish law. Disputes are subject to the courts of Marbella. The penalty mechanism above falls under Article 1454 of the Spanish Civil Code.

Signatures

Both parties sign electronically. Original wet-signatures will be prepared by the chosen notary at escritura.

Seller