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Making Money Buying Homes And More From Estate Sales
An estate sale is the sale of the property owned by a person after a person dies. This sale may include real property, such as a home, and personal property, such as the home's contents.
There are two ways to buy property through an estate sale. One way is to buy it from the person who inherited the property. The other way is to buy it from the estate through the executor of the estate. The executor is the person with the legal authority to dispose of the estate's assets according to the last will and testament of the person who died.
The executor of the estate may be working with the state authorities in a probate court if the estate is in probate. Probate is an action by law that occurs automatically if the person died without leaving a will. Probate legal proceedings may also happen if the beneficiaries of an estate dispute a will that exists.
Opportunities In Estate Sales
Usually, the property purchased from an estate sale is available at a discount from its market value. Sometimes, this discount may be significant. When a person buys a home sold this way, the purchase is usually on an "as-is" basis. That means the ... more
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