5 Tips for People Who Have Inherited Real Estate in Allentown

Inheriting real estate in Allentown can occur during a challenging time for you and your family. You may be dealing with the loss of a loved one, and making business decisions about what to do with the inherited property can be difficult at that time.

To add to the challenges, you might not have a lot of time to make decisions. Carrying costs like mortgages, taxes, and insurance begin to add up, and you’ll need to take action to manage the property before the costs rise significantly.



Unchecked minor repairs can turn into significant damage. Additionally, there is the ever-persistent threat of HOA fines, violating zoning codes by landscaping overgrowth, or worse – someone breaking into an abandoned home. Not taking action can lead to costly consequences and certainly increases the stress in your life. So read on as we explore the five ways people can deal with inherited real estate in Allentown.

The first thought of people who have inherited real estate in Allentown is to transfer it to a family member. It keeps the property within the family and helps build a viable nest egg for the future.

However, you should be aware of the tax implications of this option, which could be costlier than leaving it as an inheritance. Therefore, you should consult an experienced real estate tax adviser before transferring the property.

Our next tip for people who have inherited real estate in Allentown is to consider taking up residency in that property. However, while well-meaning loved ones or close friends may have left you a piece of real estate as a token of their affection, it may not be suitable for you.

Their property may not be the type of home you’ve always dreamed of, or you may already live in the home of your dreams. Or perhaps it’s located in another state across the country. Maybe you’ve inherited a house in a state of financial distress, draining your wallet instead of producing the windfall of cash everyone imagines an inheritance of real estate brings.

Another tip for people who have inherited real estate in Allentown is to rent it out as an income-producing property. However, renting a property comes with hidden expenses we often tend to miss.

You’ll need the funds to manage through periods of vacancy, handle repairs for your tenants promptly, and deal with turnovers. Turnovers must occur between tenancies so the property is in its best shape when finding new tenants. Turnovers typically include replacements and upgrades to meet more current tenant demands and bring the highest return on investment.

Renting the home also involves dealing with tenants, from the screening process to collecting rent. Finding qualified tenants also requires marketing your property and possibly dealing with evictions, which can be pretty intimidating, and missteps can be costly. Lastly, you need well-honed people skills and must follow all laws governing landlords with any HOA, local ordinances, or state or federal laws, including in your advertising.

If you can afford to manage it, another tip for people who have inherited real estate in Allentown is to turn it into your second home. It’s nice to have somewhere to call home on the other side of the state or country.

However, much like everything else, there are responsibilities that come with the benefits of a vacation or second home. Depending on the amount left on the mortgage, you may have house payments in addition to the insurance, taxes, and monthly utilities that continue to add up for your vacation house. All of this while you’re also paying for your primary residence.



When you add it all up, you are likely to be better off renting a luxury property for your vacations, leaving the headaches and expenses to the landlord.

The best tip for people who have inherited real estate in Allentown is to sell it directly to your end-buyer and walk away with cash in hand. It is the most convenient option, helping you avoid paying high commissions and leaving the hassle and financial risks associated with the property behind.

Working with a professional home buyer from Pezon Properties will connect you with a responsible buyer for your home. Pezon Properties can even refer you to experienced tax advisors in the industry to help guide you with your property. In addition, a professional home buyer at Pezon Properties can lead you through your selling options step-by-step with no obligation.

At Pezon Properties, we provide you with the information to make an informed decision about what will earn you the most profit. We provide options so you can decide what is best for you, when considering both your current personal and financial circumstances and goals.

When you receive an offer to sell your house in Allentown from a direct buyer at Pezon Properties, we make sure that it is fair. That is why our process is entirely transparent. Our contracts are simple, there are no hidden fees, and we even provide you with a guaranteed closing date. We want you, our neighbors, to feel good about the deal you make with Pezon Properties long after closing.

Interested? Call Pezon Properties at 484-484-0971.