First but then sale to use a 1031?

[Jose Ortiz]

I have a property that is giving me lots of troubles.  Can I buy another property first, then sale this trouble some property and domp all the profits in to the "JUST BOUGHT property and will it quality as 1031 exchange?? 

[Dave Foster]

@Jose Ortiz, The 1031 process has to be managed by an unrelated 3rd party called the qualified intermediary.  By law you have to close your sale with the intermediary as part of the process.  And then you have 45 days to identify your new property and the entire process has to be complete within 180 days.  It's a very rigid process.

1. You cannot take title to your new property before your old property sells.

2. You cannot exchange into property you already

I'll reach out via pm and give you an overview of the process.