Q: The person says that he owned a property. It was a land, which he had purchased in a developing area for a cheaper price some time before. A friend wished to purchase the property from him, so they went to have a look at the land and location and negotiated the deal. Whilst negioting, he gave the price of 1,200,000. The prospective buyer said to him: Well, I do not know the exact market value of this area, therefore if it turns out to be less, will you sort me out? He replied in the affirmative, and even said: Me too, I am selling it to you blindly. He says that due to many other issues that surrounded him at that time, he did not find the time or chance to find out what price properties in the area were selling at. Anyway, a week or two later, they finalized the deal on 1,200,000, and made out the contract, and signed it, etc. He says that it was a few months down the line that he found out that properties in that locality were selling and 1,500,000, which means that he sold at about 300,000 below market value. This was a huge sum to loose, so he contacted the buyer, who had already started building on the property. The buyer said to him: Don’t you feel shy to even approach me on the matter. He replied: You said that if the market value is less then I should sort you out, so, now that the market value is so much more, is it not right that you should sort me out? What is the Shar’ee ruling on this?
A: Since the deal was concluded on R1,200,000 the seller does not have the right to claim anything more then the price they mutually agreed upon.
And Allah Ta’ala (الله تعالى) knows best.
كتاب البيوع قال البيع ينعقد بالإيجاب والقبول إذا كانا بلفظي الماضي مثل أن يقول أحدهما بعث والآخر اشتريت (الهداية 3/ 18)
Answered by:
Mufti Zakaria Makada
Checked & Approved:
Mufti Ebrahim Salejee (Isipingo Beach)