The ruling on purchasing real estate on installment

Question:
This questioner, Abu Mu'adh from Jeddah, says: What is the ruling on buying a house or an apartment through installment companies, knowing that the cash price of the apartment or house is seven hundred thousand riyals, but through the company it becomes one million and two hundred thousand riyals?

Answer:
If the company owns the houses and sells them to the customers in need, there is nothing wrong with that. However, if it does not own the houses, but rather goes and buys them after negotiating with the customer and taking his commitment, because he will take this apartment or this residence, then that is not permissible, because it is selling what one does not own. And the Prophet (peace and blessings be upon him) said to Hakim ibn Hizam: It is not permissible for a person to sell what he does not have, with the intention that he will go and buy it and bring it. Therefore, the jurists stated among the conditions for the validity of a sale that the seller must own the item being sold or be authorized to sell it. Yes.

The presenter:
May Allah reward you.