1031 Exchange - Question on 45 vs 180 Day Deadline

[Daniel Newman]

Hi everyone!

For a 1031 exchange, I'm aware that you must identify a property within 45 days, and acquire the property within 180 days. My question is: are you only able to acquire properties in that 180 day period that you identified in the 45 day period? What if a new property pops up on the 50th day that you want? Also, given the current state of the market, properties are being snatched in days. What if all the properties you identified in the 45 days are no longer on the market only a couple weeks after? 

Curious what the true requirements are for the 45 days versus the 180 days, and how people have navigated this successfully in the past. Thanks! 

[Dave Foster]

There's some confusing restrictions on how you identify and how many you can identify.  If you reach out off line I can send some resources to you.  In general, if you're buying more expensive properties than you sold you will need to keep your list to 3 or fewer.  

If you're buying significantly cheaper properties than you sold you can maybe name more than 3 (but the total value of the list must be less than twice the value of what you sold).