Contracts
A Pennsylvania seller's listing agreement typically provides that the seller owes commission if a sale occurs within the listing term when a ready, willing, and able buyer is produced. 'Ready, willing, and able' means the buyer:
AHas submitted any written offer regardless of terms
BHas the financial capacity and intent to purchase at the listing price and terms, or terms acceptable to the seller✓ Correct
CHas visited the property at least three times
DHas obtained mortgage pre-approval
Explanation
A ready, willing, and able buyer in Pennsylvania is one who: (1) is ready to purchase immediately, (2) willing to accept the seller's terms (or terms the seller accepts), and (3) financially able to complete the purchase. The commission is typically earned when this buyer is produced, even if the seller subsequently refuses to close.
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