The emerging youngster is expected to leave Santiago Bernabeu this summer, but Madrid will include a buy-back option in any proposed transfer, with Getafe leading the way
Sarabia is considered to be one of the most exciting young talents to have come through the ranks of the Madrid academy in recent years, and has a contract with the capital club until the summer of 2013.
However, Getafe's €3 million offer has proved to be too tempting for the Spanish giants to resist, and they have reportedly decided to cash in on the 19-year-old, although they will insist on a buy-back option being inserted for the gifted starlet.
Sarabia made his Real Madrid debut in the Champions League match against Auxerre in December 2010, but has since been unable to secure regular first-team action.
The left-footed attacking player has previously been linked with clubs such as Barcelona, Arsenal and Braga, but looks set to remain in the capital with Getafe instead.
In recent seasons the likes of Esteban Granero and Alvaro Negredo have been sold by Madrid and bought back at a later date, under similar circumstances to Sarabia's alleged move.