Real estate investors have a lot of ways in which to purchase the properties they want to invest in. Home flippers, in particular, who are on the lookout for properties priced lower than their real market value can turn to a less-known source of profitable purchases known as estate sales.
By definition, an estate sale is a type of auction, garage, or yard sale aimed at disposing of most possessions including real estate properties owned by a person who has passed away or will be moving to another home or place.
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In this case, the heirs might no longer be interested in keeping the property or it can also be that the deceased left huge debts which need to pay through the proceeds of the property's sale.
An estate executor or administrator normally conducts the estate sale as survivors may find it difficult to handle such a huge sale and feel very sentimental to dispose of some priced belongings and property. In the event the survivors fail to agree on how to dispose of a property, a court may order the sale through an estate sale with the proceeds to be divided among the survivors.
So if you're interested to try this out, there are several ways to acquire such probate properties. You can buy directly from the estate executor at a discount or you can buy from the heirs themselves after they get their respective property. Some heirs prefer to have cash notably if the location is a major consideration so they will opt to sell the property.