An Exceptional Exchange Experience, Made Easy. |
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180 from Closing to Closing
The Exchange Process From Start to Finish
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Back to basics: As the Qualified Intermediary (QI), 1031 CORP.’s role is to facilitate the exchange process and make it easy for you to complete your 1031 exchange. Among other steps, 1031 CORP. will prepare the necessary exchange documentation, coordinate the exchange details with all parties, keep you aware of the timing requirements, hold the proceeds from the sale, and answer any questions throughout the exchange process.
The principle behind Section 1031 is the continuous investment in like-kind real property. A 1031 exchange allows you to defer capital gains, transfer your depreciation schedule, preserve wealth, and leverage your equity. Through the Exchange Agreement, 1031 CORP. agrees to acquire, hold and convey your properties, although in a typical exchange, 1031 CORP. does not take legal title to the properties.
The 1031 exchange process is not complex, but there are requirements. A critical qualification for a valid 1031 exchange is the first call; You must employ your QI, 1031 CORP., before the closing of your relinquished property is complete. You can initiate the exchange at the closing table if needed but consider contacting us with plenty of lead time.
1031 CORP. cannot provide tax or legal advice, but your tax or legal advisor will help you determine whether a 1031 exchange is best for your particular situation.
From the initial planning stage through the final tax reporting stage, 1031 CORP. strives to provide an exceptional exchange experience, making the process easy. We support you, help with any questions, and look forward to a continued relationship beyond your transaction.
Learn more about the steps in a successful 1031 exchange...
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The 1031 exchange process is not complex, but does come with requirements.
A critical first step is to contact 1031 CORP. before the closing on the relinquished property is complete.
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The 1031 CORP. Exchanging Thoughts Blog
Looking for another perspective on 1031 exchanges and the real estate industry?
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Upcoming Webinars
>> Thursday, Sept. 7, 2023
12:00 Noon Eastern
>> Thursday, October 5, 2023
12:00 Noon Eastern
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1031 CORP. provides an easy-to-follow overview of 1031 tax-deferred exchanges and their many benefits. We'll also review the requirements of a successful exchange and the essential role of 1031 CORP. to keep the exchange transaction simple for all parties and wrap up with questions and answers. |
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Schedule a 1031 Presentation |
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The 1031 CORP. Exchange Team is available to present seminars, webinars, and continuing education courses on 1031 exchanges, their many benefits, and the requirements of a successful exchange to your association or groups.
Our team will tailor the presentation to your audience and time schedule.
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Sabrina Richards
Exchange Officer,
1031 CORP.
Collegeville, Pennsylvania
(610) 792-4880 ext. 227
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Sabrina Richards
Role: Exchange Officer
Location: Collegeville, Pennsylvania
What advice can you give someone considering an exchange?
The best piece of advice I would give a potential exchanger is to plan in advance. Think about what your goals are 5 or 10 years down the road. Involve your tax advisor throughout the process as they can give advice based on your specific situation. Good planning can help you maximize the tax benefits of doing a 1031 exchange and will allow you to build your wealth.
An example of good planning is using strategies for retirement. One particular client had 30 investment properties. He was getting older and wanted to pare down his portfolio. He began exchanging the properties into larger investments. He sold three or four properties to buy a larger rental housing or commercial property. As the years went on, he exchanged those into even larger investment properties until he was down to one.
After renting out the last rental property for three years, he moved in and made it his retirement home. He planned to pass on the property to his heirs. They would receive the house and all his property at a stepped-up basis on his passing, eliminating the tax on the gain. By planning ahead and consulting with his tax advisor along the way, he was able to use Section 1031 Exchange to achieve his ultimate goals.
Over your career, you returned to the 1031 industry. What encouraged you to come back?
The 1031 exchange business is so interesting. I meet new people, and work with a variety of circumstances. No day is ever the same.
I have a background in Human Services and Career Development, so I’m a bit of a “Helper.” I get to help our clients comply with the 1031 rules and see them build wealth. It’s fun, and I like seeing investors accomplish their goals. I really enjoy walking our clients through the exchange process and making sure things go as smoothly as possible.
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Poll: Are home prices scaring off investors? |
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Please select only one answer. Poll results will be reported next month.
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Yes, price is having a big impact on investment property sales.
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Yes, but it doesn't have a big impact.
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No, there are other factors.
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No, investors are more likely to purchase.
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Not sure, too many factors to tell.
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Poll: Will rents rise in the next 6 months? |
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Your poll answers from the July issue of Exchanging Times
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Serving as a nationwide Qualified Intermediary for 1031 tax-deferred exchanges since 1991, 1031 CORP. strives to provide an exceptional exchange experience made easy for our clients and their advisors. We provide our clients with enhanced security of funds, knowledgeable exchange professionals and a commitment to keep the exchange process simple for our clients and their advisors. Our Exchange Team, which includes Certified Exchange Specialists®, has the experience and expertise to facilitate even the most complex exchange transactions, including reverse and improvement exchanges.
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