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1031 exchange timeline1/8/2023 ![]() It takes coordination with all of the interested parties lender, broker, title agent, qualified intermediary, attorney, accountant, etc. The key to a successful 1031 exchange is planning. ![]() ![]() You should contact a qualified intermediary during the sales negotiation when the sale seems likely to be completed. The sale and purchase of the two properties must be completed in 180 days to avoid a taxable event. You have 45 days to identify a replacement property and another 135 days to complete the purchase of the replacement property. The intermediary applies the money to the new property. This keeps the seller from constructive receipt, which is a taxable event. The intermediary receives the money from the sale on the seller’s behalf. He provides specific steps and useful information for investors considering an exchange.įREE for CREPN Radio Listeners: A Guide to 1031 Exchanges click here How a 1031 Exchange Works The seller contracts with a qualified intermediary prior to the sale of an investment property closing. If your are a real estate investor, this is a great opportunity to keep your gains when investing in a like investment property.īill Exeter with Exeter 1031 Exchange has been working with investors as a qualified intermediary for over thirty-four years. The 1031 Exchange is a section in the IRS tax code that allows investors to defer paying capital gains taxes.
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