1031 Exchange Explained: Close On My 1031 Exchange

Most common 1031 exchange explained scenario:

  1. Sign contract to sell your current property.

  2. Call 1031x.com (Before closing)

  3. Sell old property (relinquished property ); money wired to your 1031x.com account.   Day One

  4. Identify up to three replacement properties you’re considering and send signed list to 1031x.com, as required for a 1031 exchange. By Day 45.

  5. Buy one, two or all three replacement properties identified (total value exceeds value of old property) using money wired from your 1031 Exchange Account. By Day 180.

  6. File Form 8824 with your tax return. Your capital gain taxes are deferred!

This is what we term a “simple exchange.” Of course, each exchange has it’s own unique requirements. Simple or complex, forward or reverse, we enjoy helping our clients defer their taxes.

Quick! I am ready to close!

Call 1-888-899-1031 toll free! Don’t lose out on the opportunity to save thousands of dollars by doing a 1031 exchange. Our team can handle 1031 exchanges even from the closing table. So don’t hesitate to call or use the form below to get your 1031 exchange setup and preserve your opportunity for savings. We understand the importance of privacy and we DO NOT share your information.

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