Your ijara mortgage and the costs of sellingOctober 29, 2014 at 12:26 am
An ijara mortgage is the lynchpin for getting involved in real estate in North America if you’re looking to stay Sharia compliant and free from riba. Ijara financing is also important as you move from one property to another and when you decide to sell, there are some additional costs you’ll need to take into account. Of course those of you familiar with the process will understand the agent’s commission as well as the lawyer’s fees will need to be taken care of, but there’s another important area to look at in repairs and renovations that can dictate how much you’ll actually get. Older homes might need major repairs before they sell whereas newer homes should only need minor adjustments. Remember that first impressions go a long way and you should always be paying attention to things like leaky faucets and chipped paint.
Although these aren’t necessarily the renovations that will bring you more equity and a higher asking price, they are the kind of small things that can get that sold sign on your front lawn a little quicker.
Of course staying with that ijara mortgage is a best practice. It’s one of the constants you can take from home to home.