The Real Estate Encyclopedia
What is Meant by a Ready, Willing and Able Buyer?
Category - Real Estate Information Sources - General Real Estate Information

“Ready, willing and able” is a phrase used in real estate to refer to a prospective buyer of property who is legally capable and financially able to consummate the deal.  Traditionally, the broker earns a commission upon procuring a “ready, willing and able” buyer on the listing terms, regardless of whether the seller actually goes through with the sale. 

 

The “ready and willing” means the broker has to produce a buyer who indicates that he or she is prepared to purchase the property and is willing to enter into a purchase contract.  The “able” refers to the buyer’s financial ability to comply with the terms of the contract related to the purchase price, loan approval and cash payments. 

 
Category(s)
Home Selling Questions - Selling Legal & Closing FAQ's
Home Buying Questions - Search & Offer FAQ's
Real Estate Information Sources - General Real Estate Information
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