When many people see an “estate sale” sign posted they think bargain - not just another garage sale! I think the same thinking occurs when home buyers see an MLS listing that includes the magical words "Estate Sale."
But bargains may or may not be on the agenda at these sales.
First of all the context of the "estate sale" could be anything from an owner relocating to an assisted living facility, a recent death or even the owner is just simply moving.
Depending on the circumstances an estate sale can bring out a lot of emotion on those involved with the selling. It may be in the form of an emotional attachment (memories) that makes the offer price too high for the market. It may even be in the form of greed by one of the survivors. (It happens!)
On the buyer side it may very well bring out the predator in some buyers who thinks it’s a desperation liquidation sale.
A normal real estate transaction is an emotional roller coaster anyway. If it is an estate sale – expect a bit more!
If you live out of the area I would be happy to provide a free market analysis.