Which of the following best defines a "ready, willing, and able buyer"?

Study for the 75 Hour Broker Pre Licensing Test. Study with flashcards and multiple choice questions, each question has hints and explanations. Get ready for your exam!

A "ready, willing, and able buyer" is a term used in real estate to describe a buyer who is prepared to make a purchase of a property. This definition encompasses several key attributes: the buyer must be financially prepared to proceed with a purchase, demonstrate a genuine eagerness to buy, and possess the necessary means, such as access to funds or a mortgage, to complete the transaction.

This definition captures the essence of what is expected of buyers in a successful real estate deal. Being financially prepared indicates they have the resources in place, while being eager suggests they have commitment and intent to find and purchase a property.

The other options provided do not encapsulate the full definition of a "ready, willing, and able buyer." For instance, solely focusing on individuals who are pre-approved for a mortgage narrows the definition too much, since a buyer could be financially ready with other means besides a mortgage. Similarly, while individuals looking into multiple properties may be exploring options, it does not automatically indicate their readiness or willingness to buy. Lastly, anyone interested in real estate is too broad, as it does not signify any commitment or ability to purchase. Thus, option A appropriately combines these aspects to represent a buyer who is truly prepared to engage in

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