Buying a house from the bank
Machine translationRead the Arabic original
The questioner:
Yes. The second question is about the houses that banks buy; are they permissible or not?
The Shaykh:
Yes.
The questioner:
The bank says it will sell you such-and-such a house, meaning one million and three hundred, and it calculates it as double.
The Shaykh:
Or, if it buys it, takes ownership of it, and takes possession of it, and then sells it to you, there is no harm in that. However, if it buys it for you and delivers the price, then it has not bought it itself and has not taken ownership of it itself; rather, it acted on your behalf, bought it for you, and delivered the price with an increase that it takes from you. This is riba (usury or interest) and is not permissible. Yes.
Yes. The second question is about the houses that banks buy; are they permissible or not?
The Shaykh:
Yes.
The questioner:
The bank says it will sell you such-and-such a house, meaning one million and three hundred, and it calculates it as double.
The Shaykh:
Or, if it buys it, takes ownership of it, and takes possession of it, and then sells it to you, there is no harm in that. However, if it buys it for you and delivers the price, then it has not bought it itself and has not taken ownership of it itself; rather, it acted on your behalf, bought it for you, and delivered the price with an increase that it takes from you. This is riba (usury or interest) and is not permissible. Yes.
Source
قناة «العلامة الدكتور صالح الفوزان»، شراء البيت من البنك\#صالح_الفوزان\#كبار_العلماء — youtube.com
The Arabic text is a machine transcription of the audio recording.