Is this financing possible?

[Rao V.]

Hi,

So I have a client who want to buy a house but cannot go to conventional bank and get money on interest. They are not allowed to give or take interest. But what is allowed is that somebody buys the property for them and then sell them at higher price which can include "interest" calculation in the price of the property.

For example if 100k is being financed, the seller can include the interest cost in the price itself and agrees to take a monthly payment. on the surface it looks like 0% financing but actually it is not. The seller is recovering his interest payments by selling at higher price.

Is somebody familiar with that kind of contract?