What should you be looking at when you inherit a property? Are there things that have to be done?

Is it a private property or HDB flat? And do you already have a property of your own?

If the inherited property is an HDB flat and you already own a flat, you'll have to pick one to sell within six months.

If it's a private property, then no issue there. But just take note of the remaining lease (if it's a leasehold), the maintenance fees and taxes you'll have to pay, and how much it'll cost to renovate the home (if you plan on renting it out). Older properties cost a ton more to maintain simply because of wear and tear, so if you don't have the cashflow it might make more sense to just sell it.

Firstly, check and confirm whether there is any tax, mortgage, or payment associated with the property. This helps to prevent shocks in the future.

Secondly, make a long term plan for your future - are you going to keep the property or to sell it? Either way, ensure that you will not be taxed or forced to sell the property when circumstance change.

If you intend to use this property as an investment, check around the area for the valuation of the property itself. Either do your own research or speak with a professional who is able to give you professional advice on whether it is viable to keep it as an investment.

Furthermore, evaluate whether you will rent the property out. If so, how are you going to maintain and make the necessary arrangements?

Finally, if you intend to keep it as a long-term investment, you may wish to set up a Trust for your beneficiaries. Otherwise, draft a Will to ensure that this property will benefit according to your wishes. Here is some information about a Will: https://www.blog.pzl.sg/what-is-a-will-singapore/

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