Buying and Selling: Ruling on Revoking a Sale After Receiving a Better Offer

Practical Laws of Islam as per the teachings of Imam Khamenei

Buying and Selling: Ruling on Revoking a Sale After Receiving a Better Offer

English:

Question #1560:

Someone sold some property for a cash deposit, with the remaining amount to be settled by installments. After the vendor received the cash amount and gave the buyer possession of the property, another buyer who offered a higher price for it approached him. Is it permissible for him to revoke the first sale in order to sell the property to the second person?

Answer #1560:

After the sale was concluded in a proper and shar‘ī manner, the vendor has to abide by the terms of the agreement. He is, therefore, not justified in revoking the agreement in order to sell the property to another person unless the vendor has the right to revoke the contract.

-Imam Khamenei, Practical Laws of Islam, Importance and Conditions of Buying and Selling