Permissibility of Sealed and Unsealed Bids When Selling Properties
Fatawa Question
If two or more parties have offered the asking price of a property. The standard process is for the estate agent to enter all interested parties into sealed or un-sealed bids in order to achieve the best possible price for the propery. Usually this results in offers being made above the asking price. Sealed bid (each party offers their best offer in a sealed bid, neither party knows of the others bid) Un-sealed bid (each party offers their best offer, each party is aware of each other’s bid, price may gradually increase as a result). From a sellers perspective is the above practice permissible in Shariah ?
Fatwa
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Publisher
al-Qalam Shariah Scholar Panel
Publication Date
2014-06-04
Country of Publication
United Kingdom
Main Subjects
Economy and Commerce
Financial and Accounting Sciences
Islamic Studies
Topics
No. of Pages
1
Data Type
Fatawa
Language
English
Record ID
BIM-726230
American Psychological Association (APA)
al-Qalam Shariah Scholar Panel (Manchester, England)& But, Muhammad Zubayr. 2014-06-04. Permissibility of Sealed and Unsealed Bids When Selling Properties. . Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726230
Modern Language Association (MLA)
al-Qalam Shariah Scholar Panel (Manchester, England)& But, Muhammad Zubayr. Permissibility of Sealed and Unsealed Bids When Selling Properties. Manchester England : al-Qalam Shariah Scholar Panel. 2014-06-04.
https://search.emarefa.net/detail/BIM-726230
American Medical Association (AMA)
al-Qalam Shariah Scholar Panel (Manchester, England)& But, Muhammad Zubayr. 2014-06-04. Permissibility of Sealed and Unsealed Bids When Selling Properties. Manchester England : al-Qalam Shariah Scholar Panel.
https://search.emarefa.net/detail/BIM-726230
