Definition of ready, willing, and able in the Idioms Dictionary. Every definition of the term "ready, willing and able" buyer that I've read requires the real estate agent to procure a purchaser who is 'ready, able and willing' to purchase the listed property at the terms specified by the seller and has the financial ability to complete the contract.

If you accept an offer that is suitable for you (you don't have to accept any offer if it's not right for you) and the buyer is in a position to unconditionally exchange contracts and YOU decide to pull out the sale the commission would still be liable.
Buyers simply get pre-approval for their loan or present a pre-qualification letter when they submit an offer. The ‘able’ requires that the buyer be financially able to comply with the terms of the sale in both initial cash payment and any necessary financing. The second Interim Report of 2012 discusses the issues surrounding the use of 'ready, willing and able' clauses within agency agreements and provides a number of case studies which emphasise why an explanation of the commission fee earning terms must be given to the client at the point of signing in order to avoid future disputes arising. Most land lenders in my area do not offer pre-approval letters. Ready willing and able: A buyer is ready, willing and able if they are prepared and are able to exchange unconditional contracts for the purchase of your property.If such as buyer is introduced by us in accordance with your instructions our fee will become due even if you subsequently withdraw from the sale and unconditional contracts for sale are not exchanged, irrespective of your reasons The earnest cliché ready, willing, and able occurred in 102 contracts filed on the SEC’s EDGAR system in the past year. In a property having a listing contract, if the real estate broker secures a client who is a ready, willing, and able buyer, then he or she is entitled a … Auctioneers have long required proof of funds for a bidder to participate in the auction. A buyer that is “ready, willing and able” will be able to provide sufficient earnest money, willing to come to terms with the seller and sign a purchase agreement, and will follow through on the transaction. Who else is doing it?Top 15+ holiday destinations from the UK – which can you travel to hassle-free? Demanding 20% isn't unconditionally willing to exchange from my understanding. Its stance of putting consumers first is protected and enshrined in the legally-binding Find cheap pick-up only items near you - they often attract fewer bids.Turbo boost your credit chances and get your free Experian credit report.Shows which top cards and loans you're most likely to get.Finds your cheapest energy & monitors to let you know when to switch again.Our TravelMoneyMax tool compares 30+ bureaux to max your holiday cash.Our Broadband Unbundled tool finds the cheapest broadband, phone and TV.Find out how much income you keep and how much the taxman takes.Martin Lewis is a registered trade mark belonging to Martin S Lewis. My hope is that this article spurs some thought for buyers, agents, or sellers regarding the land sales process, and that they will be able to take steps to ensure a smoother and successful transaction.

What does ready, willing, and able expression mean? ready, willing, and able phrase. When the seller is ready, willing, and able to sell the property and where there is a buyer default on a real estate contract and the buyer refuses to close on the sale (for a reason not excused by a contingency), the seller has the right to terminate the contract and keep the earnest money payment.

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That’s not a whole lot, but it’s not nothing either. The EA reserves the right to charge us 10% of the commission if we do not proceed with an asking price buyer who is ready willing and able. When I sold in 2011, before I signed the contract with the EA I crossed that section (identical AFAIR) out and wrote "On completion" instead. A buyer that is “ready, willing and able” will be able to provide sufficient earnest money, willing to come to terms with the seller and sign a purchase agreement, and will follow through on the transaction. MoneySavingExpert.com is part of the MoneySuperMarket Group, but is entirely editorially independent.

The buyer is not ‘ready and willing’ when the offer is subject to any new conditions, such as making the closing date an unreasonably long period, for example, one year from the offer….


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