7 In Him we have redemption through His blood, the forgiveness of sins, according to the riches of His grace
Verses 3 to 14 set forth the work of the Trinity:
The work of the Father in planning salvation, vv. 3-6
The work of the Son in providing salvation, vv. 7-10
The work of the Holy Spirit in applying salvation to individuals, vv. 11-14
Having set forth blessings of election, verse seven abruptly introduces the doctrine of redemption, the work of Christ in that redemption. He paid the price for our salvation. This verse shows being in Christ as the basis of grace, and redemption as the agency of grace.
It is in the sphere of Christ that we have redemption. We have it nowhere else. We certainly do not have redemption in ourselves.
Christians have the present possession of redemption. We do not pray for redemption or hope for redemption; we have redemption.
There are three Greek terms for redemption in the New Testament. The first comes from the Greek marketplace and means to buy, to buy in a marketplace. This term carries the idea of release from a state of slavery. In this case, it is release from sin. Jesus bought our salvation with his blood. That was the price He paid for our salvation.
The second Greek term for redemption is a stronger term made up of two words: (1) to buy and (2) out. The idea is to buy out of the slave market, never to be repurchased in the market again. Our redemption is permanent. Satan can never place us under the power of sin again. We can never be sold in the slave market of sin another time. Jesus redeemed us permanently from sin, from its penalty. Once we’re removed from the slave market of sin, no one can put us there again.
The third Greek word for redemption is not related to the previous two. This term means to loose, set free by the payment of a price. Not only are Christians bought out of the marketplace of sin, never to return, but they can never be sold in slavery again. Slaves of the first century were purchased by a slave owner and then sold again. This can never happen to a Christian. Jesus bought us to set us free permanently. This term is the Greek word used in verse seven.
The Greek word for redemption in our verse means to liberate by payment of a ransom to set a person free. This word goes beyond meaning purchasing out of a slave market never to be sold again; it goes further to mean to set free after purchase.
Christians possess redemption from sin permanently the moment they believe that Jesus died for their sins.
Jesus set us free permanently from the slave market of sin. Redemption connotes liberty from bondage and slavery. Spiritual liberty is a present possession of the believer. Jesus purchased our liberty with His blood. Redemption affords forgiveness of sins. Those who believe that Jesus paid the price for their sin presently possess redemption from their sin. They do not wait for some future point to have this privilege.
Mt 20:28, “. . . just as the Son of Man did not come to be served, but to serve, and to give His life a ransom for many.”
1 Co 1:30, But of Him you are in Christ Jesus, who became for us wisdom from God—and righteousness and sanctification and redemption—
Ga 4:4, But when the fullness of the time had come, God sent forth His Son, born of a woman, born under the law, 5 to redeem those who were under the law, that we might receive the adoption as sons.
Ti 2:14, who gave Himself for us, that He might redeem us from every lawless deed and purify for Himself His own special people, zealous for good works.
1 Pe 1:18-19, knowing that you were not redeemed with corruptible things, like silver or gold, from your aimless conduct received by tradition from your fathers, 19 but with the precious blood of Christ, as of a lamb without blemish and without spot.