Utilizing a 1031 exchange can mean saving millions of dollars in tax liability in any real estate transaction. However, the process can be incredible complex, time consuming, and burdensome. We can help you navigate the process, meet your deadlines, and successfully execute your exchange.
For a successful 1031 exchange execution, it is best to plan ahead well in advance of your sale. This means drafting your sales contract to ensure that prospective buyers understand that you are intending to take advantage of the 1031 program and perhaps even getting concessions from them to facilitate the process. It also means having your exchange facilitator lined up, being in discussions with lenders, insurers and property managers about what you will likely be in the market for, and most importantly canvassing the market for potential exchange properties that you will be ready to move on when you close on your sale.