GETTING STARTED WITH A 1031 EXCHANGE
step-by-step Timeline
Step 1 - Get in Touch with a Qualified Exchange Intermediary
Start by giving us a call. Our experienced team is ready to guide you & your real estate agent through every step of the 1031 Exchange process, ensuring you have the knowledge & support to make informed decisions.
Step 2 – List your “Relinquished Property”
Ensure that your Realtor is aware of your intention of completing a 1031 Exchange.
Step 3 - Property is sold
When selling your investment property, it’s essential to formally designate it as part of a 1031 Exchange. This is a key step to ensure you meet all legal requirements & move forward with the exchange.
Step 4 - Identify Potential New Investment Properties
Once your property is sold, you have a 45-day window to identify one or more replacement properties. Whether you’re looking to purchase a single property or multiple, it’s crucial to submit your list of potential options during this period.
Step 5 - Close on Your New Replacement Property
Similar to the Relinquished Property sale, all parties will be formally notified of the 1031 Exchange for the closing. Our Qualified Intermediaries will wire the funds to the settlement company on closing day and prepare all necessary documents.