1031 Exchange Transactions in Woodlake

A 1031 exchange allows an owner to sell investment or business property and reinvest the proceeds in like-kind property while deferring taxes, as long as the requirements are met. Among those requirements are two fixed deadlines. Within 45 days after the relinquished property closes, replacement candidates have to be identified in writing, and the replacement purchase must be completed within 180 days of that same closing. Real Estate Agent Woodlake handles the real estate side of exchanges for owners of rental homes, groves and farm ground, commercial buildings and other investment property. Planning begins before the listing, with a schedule that works backward from both deadlines. The relinquished property is priced and marketed with that schedule in view, and the search for replacement candidates usually begins before the sale closes, since the identification period passes quickly. Throughout, we coordinate with your qualified intermediary, who holds the exchange funds, and your tax advisor, who rules on eligibility and the tax consequences. We do not provide tax advice; our role is to keep the property transactions on schedule.