NW Exchange Facilitators
Your 1031 Exchange Facilitator since 1994
We specialize in commercial and farm real estate. We would be happy to help with your 1031 Exchange. Contact us and we will be sure to walk you through all that you need. Here is some useful information to get you started.
Rules of a 1031 Exchange
- NET SALE (Selling price less closing cost): To defer the capital gains tax on the sale of your property, you must spend at least an amount equal to your net selling price.
- WHAT PROPERTIES QUALIFY? All investment real estate qualifies, land = business = farm = house = duplex, etc. You can even use exchange funds to construct improvements on your new property.
- YOU MUST USE A "QI": The law requires that you use a Qualified Intermediary (QI), to facilitate your exchange. Your QI does three main things:
- Prepare the exchange agreement
- Hold equity after closing of the relinquished property
- Coordinate exchange with all closing agents
- EXCHANGE TIME FRAME: You have 45 days from the date of sale of the relinquished property to identify the specific replacement property or properties.
- CLOSING TIME FRAME: You must close on one or more of your identified replacement properties within 180 days after sale of your relinquished property.
Call on us to assist with your 1031 Exchange. We're ready to help.