Scroll to the bottom for the current list of homes for sale in the Triangle that are estate sales. For some great tips on purchasing estate sales in North Carolina read on!
When you hear the term “estate sale,” do you think heirlooms, yard tools, and old china? You’re not alone if that’s your first thought but if you’re in the real estate market, the term also means that a house is for sale - and it may be a smart choice for you! A home that is being sold as an ‘estate sale’ is a home that is part of an estate; it may have debts against it that can only be satisfied through the sale of the house.
Usually, it is being sold either by an executor of the estate (if the homeowner had a will) or a local probate court (if there was no will). There are rules and regulations on who can sell - and when - that make this sort of real estate transaction outside the normal process of buying a house. [Note: For estate planning purposes, you want to make sure that you leave very specific instructions in your will about the disposition of a home.]
There are pros and cons to this type of sale and understanding those is the best bet for savvy home buyers. Here are some factors to consider.
The process varies and can be anywhere between one and twelve months to assume ownership with these homes. You will either be dealing with the executor of an estate (if a will was left) or someone appointed by a probate court to oversee the process.
An executor may also be an heir and if so, they may be grieving through the process and not able to make quick decisions. If there are multiple executors/heirs, they may not all be on the same page in terms of the disposition of the property or the price. They may not all be easily reachable either; in some cases, the court will appoint someone to serve the interests of heirs that are not able to be contacted.
Depending on how much is owed to creditors and who those creditors are (IRS, for example) can also lengthen the time for the house to be available to buy.
If there is no will, and a court becomes the decision-maker, there will be a process in place that includes how the court will accept bids, counter-bids, and closing times. All these steps can cause additional time to finalize a sale. It might be necessary to hire a real estate attorney to walk you through potential complications in these sales.
These properties are usually sold “as-is.” That doesn’t mean that the executor or court can keep anything “bad” from you that they discover or know about, but it does mean that there could very well be issues that are not readily apparent. If the previous owner is deceased and the heirs have no first-hand knowledge of the property, there may be deferred maintenance issues that are not easily seen.
So, although in most real estate transactions, serious home inspection issues are reason enough for a buyer to pull out of a sale, that’s often not the case here. You will be expected to take the house no matter what.
What makes these houses most attractive is that they are often listed at a low price, sometimes considerably lower than market value. The executor of an estate is often motivated to sell the property and be done. There is also less competition for these houses as unlike short sales and foreclosures, many home buyers aren’t even aware of these types of sales.
For property going through probate court, you will be expected to put down 10% with your bid. This deposit is most likely not refundable unless 1) you are outbid on the property, or 2) the probate court rejects your offer for another reason. Also, your closing may be delayed by a few days at the last minute as you wait for court approval.
Here are some pluses to the estate sale path.
They can be great purchases for a home buyer to renovate and have some built-in equity. Many estate sales won't go quite as crazy in bidding wars, so you can also get them for a more reasonable price - sometimes significantly so - than a home that has already been fixed up.
Now, it’s true that you may have to live through a renovation. Fortunately, working with a local realtor (such as me!) means you have someone to provide contractor recommendations to make that process a little easier.
And if you’re interested in flipping a house, you’re already expecting to have to go in and renovate, so these types of homes can have great appeal.
If a court is involved, you may be expected to show proof that you can purchase without any contingencies. However, it is usually possible to close an estate sale with a normal conventional loan.
It may also be possible to borrow against a current home’s equity and get a loan for an estate sale, similar to the way people leverage equity in a primary residence to buy a second home.
Your lender will probably require that the home appraise for the full value of your offer, and you would have to make up the difference to proceed with the closing.
If you’re interested in finding one of these homes, don’t be surprised if searching for “estate sale” brings you nothing but links to sales for the “contents” of the houses. Try “probate sales” or “inherited property sales” if you want to search on your own, but the easiest way is to let us do the work for you! Below are all the current listings for estate sale homes in Raleigh, Durham, and Chapel Hill.
3 Bedroom, 2 Bath Home with 1,512 Square Feet on Almost an Acre Lot Outside the City Limits. Great Investment Opportunity!
Country Farmhouse situated on .65 acres Lot! No Subidivision Restrictions ~3 Bedrooms 2 Baths~Family Room~Living Room~Formal Dining Room~Needs Repairs~Hvac needs Repairs~...
9.76 Acres primarily wooded property just off Powhatan Road. Attractive location with quick access to US 70 Business, I-40, Clayton, Garner, Raleigh and Smithfield. Cre...
This comfy cottage home sits on a tree shaded lot. You have a charming living area with fireplace. You can live on the main floor and have whatever you want upstairs. The...
This home has 3 bedrooms, 1 bath with updates. Eat-in kitchen/dining area. Hardwood floors have been re-finished, new refrigerator, microwave, and stove. New laminate cou...
Welcome to 209 W Sycamore St. This brick home located in downtown Zebulon is perfect for a starter home or investment opportunity. Property includes living room, kitchen,...
Great location for business in Warrenton one block from court house and just off of Main Street. Has been an Auto Body shop paint business, and has a paint booth already ...
Country Charm! Reasonable offers are encouraged! This ''neat as a pin'' ranch has 3 bedrooms, 1 full and 1 half bath with room to grow. Not to mention a kitchen wi...
Investment Opportunity! This 3 bedroom 2 bath brick ranch is conveniently located between Sanford and Pittsboro. Situated on a half acre lot and features a 1 car carport....
Welcome to your country oasis at 3250 Boykin Bridge Road! This solidly built ranch is a dream for those craving space and potential. With 3 bedrooms and 1.5 bathrooms spr...
This 11-acre parcel with a pond in Johnston County is an ideal location for building your dream home. County Water Available. Situated on Highway 210, it offers convenien...
Adorable 2 bedroom, 2 bath plus bonus office space and walk-in attic! This low maintenance home, in the quaint 55+ community of Henton at Elon, features large primary bed...
Beautiful Lot with great water located in Quail Hollow paved subdivision on a quiet part of Hyco Lake. This lot is located on a private part of the lake without high boat...
Escape the chaos of everyday life and discover your own private retreat nestled in the serene beauty of Rougemont, North Carolina. This captivating tract of land spans 26...
All Brick Ranch Home on .44 acres 3 Bed , 2 Bath. Large sunroom/w tongue and groove, heated. (not included in sq ft) Exposed beams in family rm. New water heater & electr...
This charming brick ranch home at 2400 Carbonton Rd in Sanford, NC, offers comfortable living with 3 bedrooms and 2 baths. Nestled on just over half an acre in the desira...
Charming Tri-Level Home with Endless Potential! Owned by the original family, this property is a blank canvas, ready for your creative vision. The home features vintage t...
Welcome to your private country retreat! Beautifully updated home on 2 separate parcels of land totaling over 3 acres this manufactured home offers the perfect blend of m...
Welcome to this beautiful 3 bedroom, 2.5 bathroom townhouse located on the WATER with stunning views of Holt Lake. This townhouse features an owner's suite on the main le...
Welcome to 31 Bellini Drive! This charming 3-bedroom, 2-bath ranch is designed for comfortable living, with thoughtful accessibility features that make it a perfect fit f...
Conveniently situated near Hillsborough and Durham, this property features 14 acres of beautiful mature hardwoods. A small stream meanders through the property, addin...
Check out this awesome Manufactured home located on a little piece of paradise. This home is located on 1.83 acres only 5 minutes from Flowers Plantation. It has a 20x40 ...
This charming one-story home is a hidden gem with a secluded backyard. The location provides easy access to I-440 making your commute a breeze. It's also a short drive to...
Rare Find! A true 4 bedroom ranch with 2 primary suites in the perfect spot with accessibility to everything you need. Located comfortably in between Fuquay Varina & Hol...
A charmer in the heart of Wake Forest! A beautifully landscaped front yard and a large front porch to enjoy it. Large family room with fireplace and access to back deck. ...
Discover the charm of this beautiful 3-bedroom, 2-bath ranch nestled on a spacious .85 ac cul-de-sac lot! With 1,380 sq. ft. of comfortable living space, this home is per...
Discover this charming single-story modular home at 7850 NC 42, Holly Springs. This 3-bed, 2-bath gem features an open layout with high ceilings and a cozy gas log firepl...
Discover your peaceful place in this expansive brick ranch, complete with a backyard gazebo, tucked away in a private, western Cumberland County neighborhood amid mature ...
Charming brick house on .61 acres, well kept and maintained house, with original hardwood floors, large rooms, corner lot, enter from main street not Pinedale, storage ou...
Barely lived in, single owner, 3 bedroom / 2.5-bath END UNIT townhome near downtown Apex, NC. This home boasts extra windows, a finished single-car garage, and a patio ou...
Large heavy commercial lot on intersection 4 way stop inside town limits of Zebulon.Close to downtown. Great location for many uses given zoning. Old underground tank on ...
Gorgeous Brick Home, beautifully and lovingly maintained on approx. 1.34 acres, located just outside of City Limits; Nature Lover's Delight! Backs up to Pine Lakes featur...
EXCITING OPPORTUNITY!! Excelente Oportunidad en Carrboro. Fixer-upper, AS IS, brick home, 3 bed/2 bath, Chapel Hill/Carrboro schools, 0.36 acre lot, NO HOA, that's an abs...
Location, Location, Location. Beautiful brick home with some updates. Lots of space for a growing family, or beautiful one story home if downsizing. Large family room for...
Located just minutes from major highways, shopping and so much more, you'll discover this spacious 4-bedroom, 2.5-bath home situated on a quiet cul-de-sac in Clayton, NC....
Newer Construction without the Wait! MOVE-IN Ready Home with upgrades included can close as soon as lender can close. $10,000 in paid closing costs with preferred lender ...
Prime Location - Prime Opportunity! They always say, ''LOCATION, LOCATION, LOCATION.'' Well here it is... Welcome to 1218 Waterford Green Drive, Apex, NC, where convenien...
A charming Williamsburg-style brick-end-unit townhouse located in a quiet and convenient neighborhood. This spacious townhouse offers a bright and open floor plan with a ...
Fantastic Townhome in Gables at Townhall Commons! Feels like a home with only one small wall shared. Open, bright, great layout! Large kitchen w/ breakfast nook and islan...
Welcome to your dream home! This stunning property boasts elegance and functionality, featuring a beautiful entry foyer with vaulted ceilings. The true hardwood flooring,...
Brick 3 bedroom 2 bath ranch home SOLD AS IS. 1483 sq ft and 638 sq ft in unfinished basement. View of Lake Wheeler during winter months. Does need some TLC. Does not h...
1 story living with bonus upstairs. New Faucet and Garbage disposal! New Paint in interior! No yard maintenance, charming 3 bedroom 3 bath, brick home in desirable Oaks o...
Don't miss this opportunity to live in a tranquil neighborhood that is convenient to I40, 401S/NC55, 540, Wake Tech, and shopping. This meticulously maintained home boast...
Investors and developers! Own a lot in the heart of the Triangle! This rare opportunity is represented by a spacious 0.692 acres + 1631 sqft home in a mixed-use neighborh...
Investors and developers! Own a lot in the heart of the Triangle! This rare opportunity is represented by a spacious 0.692 acres + 1782 sqft home in a mixed-use neighborh...
Welcome to this one of a kind, all-brick RANCH home. This well-cared-for residence features an open floor plan allowing for seamless flow from room to room, making it ide...
Largest property for sale in the heart of Braxton Village, this spacious 4-bedroom, 2.5 bathroom home offers an ideal blend of comfort and convenience. Perfect for anyone...
Apex beauty with gleaming new site finished hardwood floors, updated kitchen, new appliances, fresh paint and ready for move in! More than 25k in recent upgrades! Gene...
This charming home is nestled in the highly sought-after Fairview at Twin Lakes community in Cary. The neighborhood boasts excellent amenities, including a clubhouse, poo...
Atop a small hill in Durham there sits a house. One of style and warmth, tranquility and timeless appeal. Where moments are made, and new stories wait to be written. Hard...
Welcome to 702 Sam Snead Drive, a beautiful 4-bedroom, 3-bath home located in the prestigious Mill Creek Golf Community in Mebane, NC. This residence combines elegance wi...
This property has water view of Lake Wheeler during winter months. No access to Lake Wheeler which is contolled by the City of Raleigh. Will transfer by Special Warrant...
Beautiful 4BR/3.5BA home with oversized 2 car side entry garage on .58 acres with Pond behind property. Open and welcoming LR/DR/Kitchen combination great for entertainin...
Lovely sprawling ranch on nearly one half acre at the end of a Cul-de-Sac in North Ridge. Large rooms and a welcoming floor plan. Custom molding and built-ins. This trans...
Constructed in 2013 this 8,000 square foot building was purpose built and nicely maintained as a airplane hangar, repair and maintenance center. This is a ''through the ...
All brick ranch home with finished basement on a serene and wooded 1-acre lot in quiet Raleigh neighborhood. Over 4500 square feet in a prime location for only $700K! Ope...
Give a nod to Nottaway in sought after Hope Valley! Updated 60s ranch on one lovely lush acre. Main level living with 3 bedrooms, separate living & dining, open light-fil...
Welcome to your urban retreat at the heart of downtown Durham! The ideal balance of elegance, comfort, and convenience is easily found in this gorgeous penthouse condo. B...
A picturesque farmhouse nestled on 4.6 acres with a private in-ground saltwater pool and a serene water view that offers the perfect balance of comfort and luxury in a ch...
Beautifully updated MID-CENTURY MODERN home with bright open floor plan in prestigious Willow Run on private culdesac lot in the Midtown North area! Gorgeous updates incl...
This gorgeous traditional home located in Governors Club boasts a spacious and classic traditional floor plan with a light filled two story family room. Enjoy mostly one ...
Who wants an Edenton Street address? Pure potential! You decide. Totally rehab or possibly develop the lot. Walk downtown! Short drive the The Village and NCSU.
Stunning All Brick RANCH home! Located at the end of a quiet street just off Penny Road in Raleigh! This one owner home is immaculate, and ready for you to make it your ...
Offered for exchange for only the fourth time in 120 years, I'm proud to represent the Williams-Cozart estate-one of the most admired and coveted properties in Wilson, NC...
Freshly painted interior creates a clean palette and a fresh start for this well-constructed home. It is ready for new owners!. Located on a quiet street in the heart of ...
Welcome to this exceptional, custom-built 4+ Bdrm home on a private 2+ acre lot (1 acre on plateau w/1 acre sloped giving mega privacy 365 days a yr). Offering a wealth ...
Entertainers Dream home! Absolute one of a kind! The property offers 1.47 acres of tranquility and privacy. Just Minutes from the SAS Campus and centrally located to all...
Gorgeous traditional mid-century in woodsy Greenwood! Located on a quiet street a stone's throw from Battle Park and downtown Chapel Hill/UNC. Heart of pine flooring on t...
Rare find! Hurry! All brick custom 4-story home on 4.33 acres in a private setting surrounded by trees and lush landscaping and yet the home is so light and bright! Not o...
Welcome to the Sorrel House, a stunning blend of historic charm and modern luxury, proudly listed on the National Historic Register. This remarkable nearly-100-year-old h...
Stunning custom home of impeccable quality & workmanship on 1.18 acres in convenient location in Apex. Upgrades include extensive trim, ornate cabinetry from local shop, ...
Introducing 'The Lake House', a hidden gem just moments away from downtown Hillsborough. Built in 1990, this modernist home was built by esteemed architect Dail Dixon, a...
Investors< take a good look at this property ,.77 acres located approximately .6 miles to the intersection of East Franklin St. and Columbia St. in the heart of Chapel Hi...
48+/- Acre Tract in a Great Location. City Water & City Sewer Available. Great Opportunity to Develop! Property backs up to the Neuse River. Convenient to 70 Hwy!
Located on over a ½ acre lot on the 4th Tee Box on the Lakes Course at North Ridge Country Club Golf Course this lovingly maintained home with recent updates is move in r...
Experience luxury redefined in this exquisitely renovated home, perfectly situated on the 5th fairway of the Jack Nicklaus Signature golf course in the prestigious Govern...
Welcome to your dream luxury condo, a spacious three-bedroom residence that exudes elegance and sophistication at every turn. As you enter through the distinctive foyer, ...
Previous Gold Parade of Homes Winner. English Country Style with Southern Charm. Open Kitchen with beautiful Cabinets and Countertops. Breakfast Room, Butler's Pantry, H...
Amazing residential opportunity to own +/-6.3 acres within the the Town of Cary city limits. Build your own dream home or grand estate overlooking Wellington Pond. Or mak...
Rare Opportunity to Own This Large Pristine Property in New Hill! This Wake County Property Features 18+ Acres of Open Rolling Fields with Some Mature Hardwoods Throughou...
These are 8 individual lots that are being assembled as part of a charitable trust. These represent the last lots that the trust has for sale. They wish to sell all at ...
The classically elegant mid-century executive home on a beautifully landscaped, secluded .91-acre cul-de-sac homesite in sought-after Forest Hills neighborhood is an ente...
Nestled in one of Raleigh's most exclusive gated communities, Southern Hills Estates, this stunning luxury home is waiting for you! Striking front elevation with expansiv...
Welcome to 12944 Old Creedmoor Road. Situated on predominantly wooded land, this property offers an expansive private forest retreat while remaining conveniently close to...
Welcome to 1421 Alpine Creek, a luxurious single-family home in the prestigious gated community of Alpine Creek. This stunning property features 5 bedrooms and 6.5 bathro...
79.83 acres is zoned AG. .27 acres is zoned RS-40. Excellent opportunity for residential development. Lot dimensions and frontage are approximate.
Listings provided courtesy of Triangle MLS, Inc. of NC, Internet Data Exchange Database. Information deemed reliable but not guaranteed. © 2024 Triangle MLS, Inc. of North Carolina. Data last updated .