he” s inquiring about purchasing an apartment or condo from a financial institution and the bank this occurs almost everywhere currently he” s speaking about paying installments for 15 months 15 years and afterwards either paying a deposit or a whole lot final payment and then claiming and having this level so he” s asking is this allowable to start with to enter into a halal deal initially of all the financial institution or the economic organization need to acquire an own this home before any kind of commitment so I most likely to the financial institution and I state listen I” d like to purchase this five space apartment or condo and they say just how much it costs and they go investigate they locate that it is XYZ euros for instance and they go and acquire it and get it and afterwards they call me and they claim look these are the paperwork currently it is in our names we have the real apartment we will offer it to you for a rate of interest added to the initial price of 15% 20% 50% there” s not a problem since you can simply state hmm since” s a whole lot I’changed my mind I ‘ m denying salamualikum ‘ this can happen and the financial institution has no right to state listen we got it for you so you can not sign any type of paper prior to the firm in fact acquires the apartment and you can and should not pay anything as a down repayment for seriousness as an example before they possessed apartment what happens is the following some financial institutions will certainly you go they provide you a full checklist and develop you fill it up you promise and you ensure that you” re going to buy this flat from them and in many cases they might make you transfer checks for god understands the number of months or years this is for how long this is not permitted the second possibility is that when you go and show their your passion in acquiring this automobile this lorry or that apartment they inform you alright give us a 10,000 euro deposit and again this is haram since they did not own the the goods the product that you want to acquire and this violates the hadith of Hakim even has a might Allah be pleased with him when he said that the Prophet informed me do not market what you do not own so if I do not have it then I can not market it if the financial institution goes and says pay attention Khalid I or Muhammad I have the home these are the qualifications these are the paperwork it” s in my name currently let” s make a purchase you make a deal with the bank that you pay over the duration of 15 years to purchase and not to lease to get this apartment or condo from them and you pay a month-to-month set rate of so-and-so so completion worth of the house let” s claim it ‘ s a million palace this is what we agree and sign upon done whether I pay it in a month I pay it in a year ten years or the full 15 years or also if I delay payments and I paid over the period of thirty years the cost does not alter they have no right to claim Oh 15 years was the bargain so now since it” s 17 years we ‘ ll charge you 5% over the original rate no this is RIBA when you sign the agreement with the financial institution the last quantity needs to be repaired and it can not be transformed by enhancing it can alter by reducing if rather than paying it over 15 years you paid over 10 years the financial institution gives you a bonus and says pay attention 10% off as a present this is okay yet I hope this yeah inshallah makes the inquiry
