qualified buyer

qualified buyer

One who is actively seeking property to purchase and has the financial ability to complete a purchase.If a seller refuses to sell property to a qualified buyer procured by a real estate broker during the listing period, then the seller will be liable for payment of the full commission unless there is a no-buy,no-pay clause.

The Complete Real Estate Encyclopedia by Denise L. Evans, JD & O. William Evans, JD. Copyright © 2007 by The McGraw-Hill Companies, Inc.
References in periodicals archive ?
The Republic National Bank of New York will offer mortgages with no points charged to qualified buyers. First Nationwide Bank will provide the underlying mortgage for the limited equity cooperatives.
University Towers, a 547-residence complex on 5-1/2 secure and beautifully landscaped acres in Downtown Brooklyn, is the only New York cooperative to offer Federally-backed mortgage insurance for qualified buyers through Section 203(n) of HUD and the National Housing Act.

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