The process of a 1031 exchange can be confusing – especially because there are different kinds of exchanges. If you’re not sure which kind of exchange (deferred, simultaneous, reverse, construction, etc.) is right for your situation, it’s probably most efficient if you just give us a call (at 1-800-USA-1031) to talk to a 1031 advisor. We’ll quickly be able to understand your situation to advise you on the best approach. Please note that we do not provide tax or legal advice.
Below we have outlined the deferred exchange: the most common type of exchange. This is where you sell (or technically ‘exchange’) your relinquished property, identify and acquire suitable replacement property.
The process for each type of exchange is different. Regardless, the most important thing to remember in regards to the process is that you must coordinate with a Qualified Intermediary (QI) before close on the sale of your relinquished property. From there, we’ll guide through the rest – each step of the way.
If you’re overwhelmed or have any questions we invite you call or to send us a message.