To ensure a successful exchange, the exchanger should be aware of these two common 1031 Exchange pitfalls. If you have further questions, please reach out to us, or access our Knowledge Center on our website for more information.
Avoid some common 1031 Exchange pitfalls to ensure you have a successful 1031 Exchange. Be aware of these two common 1031 Exchange pitfalls:
1) Start looking for a Replacement Property to identify as early as possible. The 45-day Identification period moves very quickly especially in a competitive real estate market.
2) Also be sure to communicate regularly with your 1031 representative. It makes the exchange process flow much more smoothly. Your IPX1031 representative is a tax deferred exchange veteran and capable of answering those questions.
If however an issue or scenario arises that requires additional legal review, our IPX1031 legal team will be happy to work with your advisors.
If you have further questions, please reach out to us, or access our knowledge Center on our website for more information.
