Does seller financing work on a property that's in an estate?

[Erin Kreiger]

Sorry if this is a dumb question, but here we go.

I'm a new Realtor and I don't have w2 income making my financing options limited, so I've been diving into learning more about seller financing. I currently rent and am wanting to buy my first home.

I came across a property for sale in the MLS, the person selling is the executrix of her father's estate.

I'm going to call the listing agent in a bit, but here are my questions/thoughts I was wondering if I could talk through and get some input/advice from anyone more experienced:

1. Is seller financing possible for a property in an estate?  - I know the answer will depend on any debts the owner had, and if the beneficiaries will agree to it, which could be annoying on their end, etc. but I guess I'm just curious before I talk to the agent, if anyone can tell me if it's even an option since offers need court approval (from what it says in the mls).

2. Would a second option be HML? The bathrooms have been recently updated, but the kitchen needs a full remodel, but other than that nothing major, just cosmetic from what I can tell so far.

It's been on the market for 150 days, originally listed at 550, the price has reduced to 450 over that time. I think it's still overpriced, there are four similar homes selling closer to 400. 

My thought was if I could purchase it at a price that makes sense with a HML, and do a cash out refinance after renovations to pay off the HML - but because I don't have w2 income - would I be able to do a cash out refinance? That's the part I get stuck on.

Any input, suggestions would be helpful. Are there any other financing options I could be looking into?