Inherited property in Alaska?
Here's what to do next
Inheriting property in Alaska can leave you with more
questions than answers. Should you keep it? Sell it?
Make repairs? What is it worth? What if you live
outside Alaska or several family members inherited it together?
Whether it's a home, cabin, vacant land, waterfront or
remote property, you don't have to figure everything out immediately.
Sheila Monson can help you understand the property,
evaluate your options and determine practical next
steps based on the property and the current
Alaska real estate market.
Local Expertise
Decades of experience helping Alaska property owners navigate unique real estate situations.
Clear Guidance
Understand your options before you make any major decisions.
No Pressure
Get useful information with no obligation to sell or list your property.
All Alaska Property Types
Homes, cabins, land, acreage, waterfront and remote properties.
1. First, Don’t Rush Into a Real Estate Decision
Inheriting property can happen during an already difficult or complicated time. You may be dealing with family matters, personal belongings, paperwork and decisions that have little to do with real estate.
Unless circumstances require immediate action, you don't necessarily need to decide immediately whether the property should be sold.
Start by gathering information so you can make decisions based on facts rather than pressure.
2. You Don't Have to Figure Everything Out Before Calling
You don't need to know exactly what the property is worth. You don't need to have every belonging removed. You don't need to have every repair completed. And you don't need to decide with absolute certainty that you are going to sell. Start by asking questions. Tha is what I am here for.
3. Understand the Alaska Property You Inherited
Before deciding what to do, develop as clear a picture of the property as possible.
An inherited Alaska property could be a conventional home, recreational cabin, vacant acreage, waterfront property, rental, investment property or remote off-grid property.
Start with three basic questions:
What Type of Property Is It?
Determine exactly what you've inherited and how the property has historically been used. Property type can affect value, potential buyers and marketability.
What Condition Is It In?
If you haven't visited recently, don't assume you know its current condition. Deferred maintenance, winter damage, belongings, vehicles, equipment or other issues may need to be evaluated.
Don't automatically start making repairs or cleaning everything out. Evaluate the property first.
How Is the Property Accessed?
Access is particularly important in Alaska. The property may have maintained road access, a private road, seasonal access, trail access or require a boat, aircraft or snowmachine.
Access can significantly affect value, marketability, maintenance and the logistics of eventually selling the property.
4. Find Out What the Inherited Alaska Property Is Worth
One of the most useful pieces of information you can have is the property's potential current market value.
Sheila Monson
907.841.0840
Values can be influenced by:
- Location
- Recent comparable sales
- Acreage
- Property condition
- Access
- Waterfront
- Utilities
- Well & septic systems
- shops & outbuildings
- Improvements
- Property type
- Buyer demand
Get a realistic understanding of what your property may be worth in todays market.
No obligation. Start with information
5. Should You Keep or Sell an Inherited Alaska Property?
There isn't one correct answer. Keeping the property may make sense if you or another family member will actually use it, ownership costs are manageable or the property serves a long-term purpose.
6. What If Several People Inherited the Property?
Inherited real estate often involves more than one heir or beneficiary, and different people may have very different goals.Before marketing inherited property for sale, the people involved should understand who has the legal authority to make decisions concerning the property.
7. What If You Inherited Alaska Property but Live Outside Alaska?
Many people inherit Alaska property while living somewhere else.
You may have inherited property from a parent or relative who lived in Alaska even though you've never lived here yourself. Or perhaps you once lived in Alaska but moved away years ago.
You don't necessarily have to travel to Alaska immediately just to begin figuring out what to do with the property. Sheila can help evaluate the real-estate side of the situation locally, including the property's location, characteristics, available market information and potential value. Depending on the circumstances, additional local resources may eventually be needed to evaluate condition, belongings, repairs, access or other issues.
8. Should You Repair an Inherited Property Before Selling?
Maybe, but don't start spending money yet. Before investing in repairs, have Sheila evaluate the property from a buyers perspective. That can help distinguish between work that may improve marketability and work that may simply consume money.
9. What About Belongings Left at the Property?
Inherited homes and cabins can contain years—or decades—of personal belongings. Before disposing of everything, determine what the overall plan is for the real estate. You don't necessarily need to empty the property before speaking with Sheila.
10. Inherited Cabins, Land and Remote Alaska Property
✓ No maintained road access
✓ Seasonal access
✓ Boat or aircraft access
✓ Alternative power systems
✓ No conventional water or septic system
✓ Limited recent comparable sales
✓ Equipment or supplies stored on site
✓ Boundaries or access routes not obvious
RELATED RESOURCE
Explore specialized information about Remote Alaska Real Estate
Have questions about your inherited Alaska Property?
Sheila is here to help you understand your options and create a plan that makes sense for you.