What to know if you are buying an estate sale apartment or building in NYC

“None of them are ever easy,” says Elizabeth Kee, an agent with CORE who has lots of experience with estate sales. “You are dealing with higher legal fees and a lot of extra time,” she says.

Estate sales take many months to close

When an apartment is part of a deceased person’s estate, Kee says the family doesn’t usually wait until legal issues are resolved before they put it on the market.

“They want to add the apartment or building to the proceeds of the estate. They want to know the value of the property,” she says. Kee has seen situations where a will is contested, which can hold up a sale while lawyers go back and forth.

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