A common question that many people ask when they’re doing a 1031 exchange is:
“Can I sign a purchase agreement for the purchase of the replacement property even before closing on the sale of the relinquished property?”
The answer is yes, but it’s a very common misconception. In fact, not only can you sign a purchase agreement for your replacement property, you can also do a reverse exchange and have your intermediary acquire the replacement property as your surrogate.
Contact a Qualified Intermediary at CPEC1031, LLC
Contact a qualified intermediary at CPEC1031, LLC for help with your next like-kind exchange under section 1031 of the Internal Revenue Code. We have more than two decades of experience facilitating exchanges of all types - forward, reverse, construction, and more. We are well suited to handling all aspects of the like-kind exchange process and can make sure you do everything necessary to defer 100% of your capital gains tax burden when selling qualifying real estate. Reach out to our team today to set up a time to chat about your next exchange!
Start Your 1031 Exchange: If you have questions about 1031 exchanges, feel free to call me at 612-643-1031.
Defer the tax. Maximize your gain.
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