Posted by: islamicfinancingnews | March 31, 2012

Before you look at Islamic mortgages, you need to determine property value


 Getting the proper package when you’re looking at Islamic finance  means that you need to look at all the variables. Proper Islamic mortgages certainly deal with riba and other elements in accordance with Sharia Law, but there are some other fundamentals that need to be addressed as well.

For example you need to have a pretty good idea what the property is worth before you start the whole proceedings. Of course there are a few factors that you need to look at here and the first one of one of the more obvious, location.

Never to be underestimated, the location of a home should have a great combination of pleasant surroundings coupled with good amenities like shopping and schools and transportation. Of course the location affects the demand and that’s another factor that can determine the worth of your property. Simple put, how many people want to buy in the areas you’re in changes the worth.

Supply is one of the final factors that you need to look at before you start the processes involved for Islamic mortgages. The number of similar options available will dictate the price you can get for your home.














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