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Updated over 1 year ago,
Option to buy, then 1031
I'm looking to do a 1031 exchange in about a year and wondered if it's possible to secure the replacement property with an option contract before then, sell & close on the original/relinquished property, then close on the replacement property. The option period would extend beyond the timeframe that I intend to sell my currently owned property. I'm aware of the reverse exchange and how that works, but I would not want to close on the replacement property before selling so I don't think that applies here. I haven't seen this scenario discussed anywhere and would appreciate any feedback on this idea. Thanks!