There are many moving parts and many players required for a 1031 exchange of real estate. With so many moving parts, it can be confusing to determine who exactly you need on your “1031 team.” In this article, we’re going to talk about whether or not you need to involve a real estate agent in your 1031 exchange.
The Many Players in a 1031 Exchange
There are many players involved in a given 1031 exchange – your qualified intermediary, attorney, CPA, and real estate agent. While a real estate broker is not necessarily required in a 1031 exchange of real estate, it’s typically a good idea to involve a real estate agent. Your real estate broker can help you find a buyer for your relinquished property, and also help you find a suitable replacement property to exchange into. This is especially important in a hot seller’s market, where properties are in high demand.
1031 Exchange Company
At CPEC1031, we help taxpayers with their real estate exchanges under section 1031 of the Internal Revenue Code. There are many rules and guidelines that govern 1031 exchanges, and it’s important that you have a professional on your side to guide you through the process. With over two decades of experience, we have the skills necessary to handle your exchange. Reach out to us today to speak with one of our qualified intermediaries about your real estate exchange. Our primary office is in downtown Minneapolis, but we serve the entire state of Minnesota, as well as other states.
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
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