What does it really mean by ready, willing and able for a home buyer?

What does it really mean by ready, willing and able for a home buyer?

Many times we heard these three words about a home buyer, READY, WILLING, and ABLE. If you're selling your home you need to know really what does that mean? Welcome to Real Estate for South Florida.

Now when you hear the words ready, willing, and able, that really means a buyer is ready to look at the property, they're ready with their documents and they're ready to make an offer. Anybody can be interested in looking at a property. Maybe they're looking to buy a home a year from now. Now they have some time, maybe at the initial stage. So they're not ready right now. It is the motivation level. Are they really ready?

As a home seller or even as a listing agent, or a real estate agent you need to know if this buyer is ready. This means, how much level of commitment they have for this purchase. Willing means are they willing to make the move and also are they willing to buy that particular kind of property, are they willing to do it now? So one is ready but are they willing even though they are ready? They may not be willing. Maybe something else is going on, maybe they're waiting for whatever market to go down or whatever the reason behind it. So they may not be willing. One is ready, number two is willing. And able means the qualification: a simple letter from the lender does not mean anything until, unless as a seller, as a listing agent, even the buyer's agent, do you have the detailed pre-approval letter where you see that they're able? The credit is verified, the income is verified, money for the down payment is verified, that is able.

So somebody may be ready, somebody may be willing but they may not be able. So these three things have to be there for a transaction from the contract to close to take it in a smooth way or even before when you're putting a property on the market, before even you get a contract on that, make sure the buyer is ready, willing, and able. Hopefully, this information is going to make your real estate transaction smoother possible. My name is Shawn Bhakta from Remax Presidential South Florida Home Finder Team and I'm happy to help.

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