We work in the field of real estate installment sales. Sometimes, due to the large number of clients, we are forced to give them somewhat later dates, on the condition that we pay a portion or a down payment of the property's value to its owner and sign a contract with him stating that the property owner has the right to compel us to purchase at the date specified in the contract signed by both parties, and that we are not permitted to delay beyond this date at all.

The questioner : This is a questioner for the program. He says, "O honorable Shaykh, we work in the field of real estate installment sales. Sometimes, due to the large number of clients, we are forced to give them somewhat later dates, on the condition that we pay a portion or a down payment of the property's value to its owner and sign a contract with him stating that the property owner has the right to compel us to purchase at the date specified in the contract signed by both parties, and that we are not permitted to delay beyond this date at all. Is the property in question considered the property of the company, such that it is permissible for the company to sell it to others on installments, receive the down payment, and sign the sales contract? Or are we required to complete the transfer and pay the remaining value, noting that the seller has the right to compel us to purchase at the specified time, as we have mentioned?"

The Shaykh : This sale has not been completed. Giving the down payment, which is the amount of the price that was paid in advance, means that if the sale is completed, this down payment is part of the price, and if the sale is not completed, it belongs to the seller. This sale has not been completed up to now, so it is not permissible to sell it. It is obligatory to wait until the sale is completed. Once the sale is completed, they may sell what has been sold.

The questioner : Yes. May Allah reward you, O Shaykh.