Reasons for buying estate sales
Estate sales are often a chance to buy a property at a great price. For various financial and legal reasons, sellers of an estate often try to get rid of a property as quickly as possible. When someone dies, a clock starts ticking. There are mortgage payments, taxes, maintenance, utilities and insurance to pay. Expenses can add up fast. The heirs are very motivated to sell fast.
The executors of the estate usually do not live in the house. They do not have strong emotional attachment to the property as the owners do. Since selling the house is extra income for the heirs, they are less likely to be offended by low offers.
Sometimes a buyer can get a breathtaking property without having to pay for someone else’s costly renovation.