* Total Includes Qard-E-Hassan of $126,000
We are in contract to own the Two properties across the street from the Masjid. They are perfect for extra space that we desperately need for the following activities:
- Additional prayer space
- Youth activities
- Community event
- Additional Parking.
We have an agreement with the owner to sell the properties to us with no interest up to 5 years. This means that we will have to pay off the property within 5 years in order to not incur any interest. Here are the details of the property:
- Final Price is $1.2 Million
- Masjid has raised and paid $600,000 down payment.
- Current owner is giving us interest-free 5 years to pay off the rest of $600,000.
- Masjid has also made the first installment of $120,000.
- We must pay $120,000 each year.
- We are in need of the next installment payment.
Pictures of the two properties are below: