Purchasing an apartment before it is developed
Q:
1. Is buying a land which is not identifiable like people buy for example 500 yards in a housing scheme but the plot purchased is not yet demarcated, permissible?
2. If one has such a land, is selling it and using that money to buy another land which is well identifieable permissible? (I mean using the money obtained by selling the land which was not identifiable permissible or not?
3. Buying a flat in installments in a building which is under construction, and hence the apartment one bought is not physically there when the agreement to purchase was signed. He then started to pay the installments, and his flat was, in the meanwhile constructed and he continued to pay. Is buying such a property which was not physically present permissible? Can one sell it once it is completed and he clears all the installments? Would the money obtained by selling it be halal?
A:
1. It is not correct.
2. Once the land has come into his custody he may sell it.
3. If the price is for the building as it stands then it is permissible.
Yes, based on what we explained earlier.
And Allah Ta'ala (الله تعالى) knows best.
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