The Veritas Real Estate Group, Inc.

Cash is king when it comes to buying foreclosures and the cash buyers can offer less than the financing buyers and still seal the deal. Here in South Florida, however, it is very difficult to obtain financing for condos, so almost everyone is paying cash. Lots of investors have lots of cash to spend and everyone is looking for a "steal". Consequently, you need to assume that your offer is your highest and best offer. Some lenders will negotiate and some will come back to the offers on the table and ask the Realtors to submit the highest and best. That said, many will not and will simply accept the best offer submitted. If you like a property, don't wait too long. Many (most) of the foreclosures I have seen lately are off the market in a week or two. The lenders are flooded with inventory and want the properties off their books.

Great time to buy and investment property expenses give you a nice tax deduction. The prices are so low now that you have to assume they will appreciate in value. Another plus for the savy investor.

Go get 'em!