The Ruling on the Earnest Money in Real Estate Sales
Machine translationRead the Arabic original
Question:
Honorable Shaykh. This questioner asks about real estate. He says: I buy and sell real estate, and I have a shop. What is the standard for the earnest money that the real estate agent takes? And if the contract is not completed, is the earnest money returned?
Answer:
This is according to the custom prevailing among people. This is called brokerage, where one acts as an agent to sell real estate on behalf of its owners. He takes a brokerage fee, which is what they call the effort, and this is determined by the custom among people.
The presenter:
May Allah reward you,
Honorable Shaykh. This questioner asks about real estate. He says: I buy and sell real estate, and I have a shop. What is the standard for the earnest money that the real estate agent takes? And if the contract is not completed, is the earnest money returned?
Answer:
This is according to the custom prevailing among people. This is called brokerage, where one acts as an agent to sell real estate on behalf of its owners. He takes a brokerage fee, which is what they call the effort, and this is determined by the custom among people.
The presenter:
May Allah reward you,
Source
قناة «العلامة الدكتور صالح الفوزان»، برنامج (فتاوى) (096) لمعالي الشيخ صالح الفوزان بتاريخ [1436-07-03] - كبار العلماء — youtube.com (27:03)
The Arabic text is a machine transcription of the audio recording.