Willing Buyer Willing Seller

There must be many real estate agencies who use this term - perhaps as an escape to the reality of the situation.
What does the term really mean?
Before the Option is exchanged, the price must first be agreed. But before that can happen, other matters will have to be addressed as well.
Most property agents, sad to say, use it loosely to effect a contract - example serious seller and genuine buyer. They fail to understand that illegal installations, unapproved structures etc has to be reinstated before the completion of the sale. Regardless of whether the property is Private or Public housing, there are authorities who runs such checks before signing the property off as 'ready' for sale.
AND although a buyer is ready to pen his signature on the cheque book, these need to be explained to him - it's his right to know - only after this fact, it is willing buyer, willing seller.
Price is not always the make or break in a contract. In public housing, it could be something as simple as a faulty condenser. When a valuation is done, it's done based on what the valuer sees, eg. a condenser with x-number of fan coil units. But what good is a condenser if the fan coil units are not working? In the private sector, most would do generous renovation, which may even include a replacement of all the air-conditioning units - but for an apartment barely $350K, it's unlikely that they will have budget to do that.
Therefore, next time an agent says that, just check the items anyways. It's good practice to close fair deals. It may be "Willing Buyer Willing Seller" when the price has been determined, but throw in more reinstatement works and the tune may change to an entirely different song!