Is it permissible to finance real estate through a bank if the client bears the loss should they back out of completing the financing process after the bank has acquired the property?

It is permissible to engage in real estate financing through a Murabaha sale to a purchasing agent. Contemporary scholars have differed on the permissibility of a binding promise in this transaction:

Some have permitted it if the binding nature applies to one party only, namely the client (the buyer), in which case the client bears the actual damage resulting from their withdrawal from the purchase. This view has been adopted by the Islamic Fiqh Academy and the Sharia Standards Authority, as stated in the resolution of the Islamic Fiqh Academy: "A promise... is religiously binding on the promisor unless there is an excuse, and it is legally binding if it is contingent upon a cause, and the promisee incurred a cost as a result of the promise. The effect of the binding nature in this case is determined either by fulfilling the promise or by compensating for the actual damage incurred due to the unfulfilled promise without excuse."

Others have absolutely prohibited a binding promise, and this is the view of the majority and the preponderant opinion.

There is no objection for the bank to follow those who hold the view that the promise is binding on the client and that the client bears the actual damage resulting from their reneging, provided that this is clarified to the client from the outset. There is also no objection for the client to accept this, unless they find the view of the majority more preponderant or if they follow those who absolutely prohibit a binding promise in Murabaha.