What to do when you inherit property that’s in bad shape

Source: BankRate — 

Not every inheritance is a windfall. Sometimes inherited property needs a lot of attention such as deferred maintenance issues.

If you’re now responsible for a home that’s seen better days, here’s what you need to know.

Most common issues with inherited properties

The majority of the time if you’ve inherited property it’s because an elderly relative has passed away. Elderly homeowners generally have a harder time keeping up with routine maintenance and as a result their properties may appear a little run-down.