he” s asking concerning acquiring a home from a bank and the financial institution this occurs everywhere currently he” s discussing paying installations for 15 months 15 years and then either paying a down settlement or a lot final payment and after that asserting and possessing this flat so he” s asking is this permissible very first of all to enter into a halal purchase firstly the financial institution or the banks must obtain a very own this home prior to any kind of dedication so I go to the bank and I say listen I” d like to purchase this 5 room apartment or condo and they state how much it sets you back and they go examine they locate that it is XYZ euros for instance and they go and get it and acquire it and after that they call me and they claim look these are the documentation currently it is in our names we possess the real house we will certainly market it to you for a passion extra to the initial price of 15% 20% 50% there” s not a problem since you can merely state hmm since” s a lot I’altered my mind I ‘ m denying salamualikum ‘ this can happen and the financial institution has no right to claim listen we acquired it for you so you can not sign any type of paper prior to the firm really obtains the home and you can and have to not pay anything as a deposit for seriousness for instance before they possessed apartment what takes place is the following some financial institutions will you go they provide you a complete listing and form you load it up you pledge and you guarantee that you” re mosting likely to acquire this flat from them and in some instances they may make you transfer checks for god understands the amount of months or years this is the length of time this is not permissible the second possibility is that when you go and show their your interest in acquiring this automobile this lorry or that apartment or condo they tell you all right give us a 10,000 euro deposit and once more this is haram due to the fact that they did not own the the product the product that you intend to buy and this goes versus the hadith of Hakim even has a may Allah be pleased with him when he stated that the Prophet informed me do not sell what you do not possess so if I do not possess it after that I can not market it if the financial institution goes and states listen Khalid I or Muhammad I have the house these are the qualifications these are the paperwork it” s in my name now let” s make a deal you make a deal with the financial institution that you pay over the duration of 15 years to acquire and not to rent to get this apartment from them and you pay a regular monthly set rate of so-and-so so completion worth of the apartment allow” s say it ‘ s a million palace this is what we concur and authorize upon done whether I pay it in a month I pay it in a year ten years or the full 15 years or even if I postpone settlements and I paid over the period of three decades the price does not change they have no right to say Oh 15 years was the bargain so now due to the fact that it” s 17 years we ‘ ll charge you 5% over the initial rate no this is RIBA when you authorize the contract with the financial institution the last amount has actually to be dealt with and it can not be transformed by enhancing it can alter by lowering if rather of paying it over 15 years you paid over one decade the bank offers you a benefit and says pay attention 10% off as a present this is fine but I wish this yeah inshallah makes the inquiry
