1031 Exchange Timeline
- Sale of Initial Property - Negotiate and sign a Sales Contract on the Initial property including
a clause stating intent to complete a 1031 Exchange.
- Place all the closing funds directly into a secure Escrow Account maintained by a Qualified Intermediary.
- Identify replacement properties within 45 days of the
closing date, including Sundays and Holidays.
- Negotiate and sign a sales contract for the new property.
- Purchase replacement property within 180 days of the closing date, including Sundays and Holidays.
- At closing, your Qualified Intermediary will deliver closing monies necessary to complete purchase
and provide you a final letter containing pertinent IRS information for your records.
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American Real Estate Exchange Services does not provide tax or legal advice, nor can we
make any representations or warranties regarding the tax consequences of your exchange
transaction. You should consult your tax and/or legal advisors before undertaking a 1031
exchange.
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