How To Buy a Property With Sharia Financing
If you’re Muslim and you’re buying a property, you want to use sharia financing. Buying a home doesn’t need to be overwhelming or difficult. The Ijara Community Development Corp. has a few different financing alternatives that can help you with sharia compliance.
Some Useful Information
We’re even happy to supply some useful information on buying a house. Here’s a list of some of the things that you should avoid.
When you are doing an inspection, you might find a hairline crack. That’s not usually a big issue unless the crack is large. If that’s the case you should have someone come in and take a professional look.
If the cracks are around the windows in the brick, you might have a moisture problem and rot.
Vertical Foundation Cracks
Vertical foundation cracks can be a problem if there’s more than one. It could mean the house you are thinking about purchasing has a bad footing.
Of course, there are a few other things you need to be looking for whether you are buying a house or condo.
Funny Smells, Sharia Financing, and A Property
There are a few funny smells you’ll want to investigate before you enter into a lease-to-own arrangement for a property. They include:
- A smell like mushrooms that could indicate dry rot.
- A musty odor that could mean there is mold somewhere.
- A burning smell could be serious. It could mean there are problems with the electrical system.
If you find air fresheners are being used during the open house, it’s a red flag. That generally means the homeowners are trying to cover something up.
Make sure the place you are considering has a solid roof. Look for missing or curling shingles. If it turns out you need to replace the entire structure, negotiate.
If you’re inspecting the place during the winter look for bare patches. That could mean there’s missing insulation in the attic or exterior walls. The results could be mold and higher energy bills.
Grading and Drainage
Grading and drainage also need to be considered. Bad grading can lead to a leak in the basement. Likewise, if there are trees right up next to the foundation. Roots could get into the plumbing and even ruin the drainage around the sides of the house.
Ijara Community Development Corp. is always available to help you with sharia financing alternatives. We are located in Ann Arbor Michigan and our company was established in 2005. Most of the work we do is in Islamic finance consulting.
The IJARA™ programs that we offer are open to devout Muslims and all consumers. Contacting one of our knowledgeable staff can get you started in the right direction. Just click on the convenient tab on our website.