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Dated: September 19 2022
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4 Common like-kind 1031 Exchanges
There are 4 common like-kind exchanges. Below is a break down of each one and how they differ.
More on the 45 Day Rule:
This rule relates to the designation of a replacement property. Once the sale of your property occurs, the intermediary will receive the funds. The investor cannot receive the funds, even for a short period of time. The investor then has 45 days to identify a replacement or relinquished property. This must be provided in writing with a purchase agreement and legal description of the property as well as a signature from the investor.
Contact us at NextHome Gulf Coast for assistance with a 1031 Exchange Sale/Purchase. Our knowledgeable professional Real Estate Agents are here to guide you every step of the way!
When dealing with a 1031 Exchange is it important that investors consult an investment, tax or legal professional to advise you of the benefits and risks of your specific transaction. Investors can also refer to IRS publications https://www.irs.gov/publications/p544 to learn more about the current list of IRS 1031 Exchange rules and timelines.
Good news 3: An average weekly mortgage rate of, say, 5.8% could draw lots of buyers back into the market, and NAR’s chief economist thinks that could happen.CHICAGO – Inflation has been
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