What does "able" refer to in the context of a buyer?

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Study for the University of Central Florida REE3433 Real Estate Law Exam. Engage with flashcards and multiple choice questions, with hints and explanations for each question. Prepare effectively for your test!

In the context of a buyer, "able" specifically refers to the financial capability to complete a transaction. This means that the buyer has the necessary financial resources, such as funds for a down payment and enough income or creditworthiness to secure financing for the purchase.

A buyer must be financially prepared to fulfill the monetary obligations associated with buying real estate. This includes not only the purchase price but also additional costs such as closing costs, taxes, and potential maintenance or repair expenses. Financial capability is crucial because, without it, a buyer cannot proceed with the purchase, regardless of their readiness, willingness, or understanding of the market conditions.

The other options touch on different aspects of a buyer's readiness or mindset but do not address the critical financial aspect that "able" implies.