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The question

Is it permissible to stipulate taking the earnest money if the buyer backs out, and paying double the earnest money if the seller backs out of selling a store? And if it is not permissible, what is the ruling in case of disagreement?

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Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 20261 min readAlso available in العربية
The answer

Withdrawing from a sale before its completion is a withdrawal from a promise that does not entail a financial right unless the promised party incurs damage, in which case a sum equal to the actual damage is estimated for them. However, if the sale is complete and part of the price has been paid as a deposit, the seller is not allowed to withdraw and must deliver the sold item, and the buyer must pay the remaining price. The buyer may release the seller [from the contract] in exchange for a sum paid to the seller along with the return of the deposit.

Summarized from the full answer at Ftawy · imported

Read the full answer on Ftawy
Source platform
Ftawy
Original fatwa ID
64455
Imported
Translation status
Source text, unreviewed
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