A townhouse or Garden Style condo? Take a look at both and decide what suits you best. This decision depends on your lifestyle. Yes, you can get a good deal with a foreclosure (best scenario is if there is not much in repairs/updating to do, or the price is so good that you are at or below market value even after making the improvements you need). The desirable properties and locations do get multiple offers. It's best, of course, if no-one is bidding along with you. If there are a few offers presented the bank will select the strongest buyer who looks likely to close quickly. So cash, of course is better than financing but most importantly a bank wants to see a buyer that is serious.