A 'Ready, willing, and able' letter isn't always required.

Penalty interest explained: Is a ‘Ready, willing, and able’ necessary?

It’s well known in the real estate industry that penalty interest can be charged by buyers or sellers if the other party isn’t ready to settle. There are, however, some areas of penalty interest that are misunderstood. In this article, I’ll explain the basics of penalty interest, and share some information that may prove useful …