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Updated over 5 years ago,
Home of an estate sale undervalued?
Hey BP,
I found a house on the market that was part of an estate. The deal seems too good to be true, but I did a tax property search and the owner passed away several years ago and his estate is selling the property. My general thought is that the heirs are looking to liquidate the assets and distribute the cash. The home is 3,500 sq ft with 5 bed/4bath in a neighborhood of <1000sq ft 2bed/1bath 3bed/1.5bath C class homes selling for under 100k.
How would this home be valued? The other homes in the surrounding neighborhoods with the same sq footage are approximately 100k more in value. How are estate sales normally handled?
Thank you!