buying from an estate

[Ed McIver]

I am interested in a property that was owned by an elderly woman who died. She has children and grand children. The property was recently listed with a real estate agent. I walked the property and it is neglected, over grown and there is trash on the front porch has broken windows and it is on a busy street. 

I have checked the listing, and the list price is completely unreasonable. I want to buy the property, but I want to pay 80% of a reasonable price. So in this case about 1/2 of the list price. It is listed for 250K and I want it for about 125K.  18 months ago a house near by sold for 100K.

Does anyone have any experience dealing with estate purchases? Any advice is welcome.

Thanks

[Tyler Mullen]

@Ed McIver

I have extensive experience on the seller side of what you're experiencing, please PM me if you'd like to discuss in deeper detail some of the processes and psychology of the situation.  Understanding their perspective might help you make your pitch.

Basically what @Adrien C. said is correct, just put your offer in to the agent and I'd recommend including a short explanation why you're offer is what it is but then cap it off with your ability to close quickly, reliably and that you "like the house and the area and look forward to restoring it", or whatever ad copy you prefer.  Use offer expiration to push for a response sooner than later.