Ron Maruca P.A.

Contrary to what may seem like a wise decision, making a low offer on an already low priced foreclosure is a surefire guarantee to lose the purchase.

The market, at least in South Florida, is full and competitive in the single family range from $150,000 and below from the news I've read to personal experience.

Bottom line....... If you want a property your offer must be at or above full price and the best terms you can muster!!

In the last 30 days I've had 4 buyers that were looking to buy a good real estate single family home investment. Three of the four buyers were cash deals. All of the offers had multiple other buyer offers and we lost them all to higher bidders. I heard that there were as many as 10 other offers on some properties.

I shared those stories with each of my investors,with the hope that they" get the picture."

Sooooo what do I do about 4 offers and no sales?? Set up my investors to come to the plate or don't get in the game.

I think we're THERE!

PS I wrote another offer today. With a lot of explanation and stories of lost deals and these buyers experiencing the same frustration, we made an offer $5000 over asking price and........ The bank came back at highest and best!! We are possibly coming back a little higher. This market is crazy!!

If we're not at the bottom ! I'm drowning down here already:)!!!!