The phrase refers back to the apply of people or corporations providing to buy actual property in a selected New York Metropolis borough, The Bronx, with fast fee in money. This association contrasts with conventional actual property transactions that contain mortgage financing and doubtlessly prolonged closing intervals. For instance, a home-owner going through pressing monetary wants would possibly search out this feature to shortly liquidate their property.
The enchantment of such transactions lies of their velocity and ease. Sellers keep away from the complexities of staging a house, coping with potential purchaser financing points, and paying realtor commissions. This method could be significantly useful for these going through foreclosures, relocation, or different time-sensitive circumstances. Traditionally, the sort of transaction offered an answer in areas the place conventional lending was much less accessible or throughout instances of financial downturn, providing property homeowners a sooner and extra sure exit technique.
