Exchange Steps and Process
Take a look at the five critical 1031 exchange steps. 1031 Pros is here to help you through every step of the process. Contact us anytime if you have a question, need a recommendation, or want to start the exchange process.
Step One:
While contemplating the sale of an investment property, contact 1031 Pros.
When contemplating the sale of an investment property. Contact 1031 Pros immediately to help answer any questions you have about doing a 1031 Exchange.
Step Two:
Enter into a contract and open escrow
When you reach an agreement to sell your investment property and enter into a contract and open escrow, make 1031 Pros your first call to get the 1031 Exchange process started.
Step Three:
Identification Period
On the actual date of the sale of your relinquished property, the 45 day identification period begins to identify the next property you want to exchange into. Additionally, the 180 day exchange completion timeline begins as well.
Step Four:
Finalize Exchange
Once you open escrow on the property you're exchanging into, contact 1031 Pros to help you finalize the exchange.
Step Five:
Enjoy a fully tax deferred exchange
1031 Pros will provide you with the necessary tax documents to file your taxes the following year, so you can enjoy a fully tax deferred exchange.