A qualified buyer is an individual or entity that has been assessed and deemed financially capable of purchasing a property within a specific price range. This term is crucial in real estate transactions as it helps differentiate between prospective buyers who have the financial means to complete a purchase and those who do not.
In real estate, a 'ready, willing, and able' buyer is someone who has the intent, financial capability, and preparedness to fulfill the terms of a property purchase. This concept is essential for brokers to earn their commission.
