California 1031 Exchange Company
As you begin gathering data and learning about 1031 exchanges, you may feel overwhelmed by the sheer amount of information available. You'll hear and read terms like "qualified intermediary" and "escrow holder." Starting with a clear idea of what these terms mean and who will be instrumental in accomplishing your exchange can go a long way towards making the exchange process feel less complicated. A qualified intermediary (QI) is a third party who holds the funds from the sale of your property. They are an entity responsible for structuring your exchange, from the beginning stages to completion. A QI may provide valuable information, consultations, and documentation during the process. The broker or agent works towards accomplishing the actual sale and purchase of the properties involved in the exchange. The broker used for this purpose should have a clear understanding off all that is involved in a like-kind exchange. It is helpful if the broker can work with the QI in discovering and avoiding potential problems. Many consider the interaction of the escrow holder with the QI among the most important factors in a successful exchange. Last but not least tax and legal advisors are important in successful exchanges. They provide advice and guidance before and during an exchange, helping to ensure that all legal or tax-related requirements are handled properly. At TM 1031 Exchange, we strive to contribute to successful exchanges by providing an easy, fast way for investors to find suitable replacement properties. Our team has a wealth of knowledge and experience to share. Call us toll-free at 1-877-4TM-1031 or contact us via e-mail at team@tm1031exchange.com.
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