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Updated about 1 year ago,

User Stats

52
Posts
22
Votes
Bryan H.
22
Votes |
52
Posts

creative 1031 with builder?

Bryan H.
Posted

I want to 1031 out of an underperforming condo in DC, into a new construction single family home. Timing a sale with the 180 day construction limitation is too short for a complete build. The basic theoretical idea is to make an advance contract/deal with the builder so I would be buying the property from him upon completion, rather than using my own funds from the sale to build the new house (because 180 days is not enough time). It would work something like this: I would delay sale of my condo until a couple months prior to timing of the new build completion date, so as to accommodate 1031 time requirements. Is this possible? 

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