Help in closing on property w/ 1031 stipulation

[Lisa Sluss]

Hello all -

I’m about to purchase some land to build a house on.  The seller has accepted my offer but is waiting on me to sign off on some stipulations.  One of those involves a 1030 exchange.  Can someone help me with this? Is he asking me to pay closing costs for his 1030 exchange?:

“In selling the Property, Seller may elect to utilize an I.R.C. Section 1031 tax deferred exchange where the proceeds from the sale of the Property are used by a qualified intermediary to purchase like/kind property. In such event, Buyer agrees to cooperate with and assist Seller in connection with Seller’s like/kind exchange and execute an assignment of this Agreement to the qualified intermediary. Notwithstanding the above, Seller shall pay additional expenses, if any, in connection with Seller’s exchange of Property. Moreover, Seller shall remain fully obligated to perform all obligations of Seller under the Agreement even after it has been assigned to a qualified intermediary.”

Thanks in advance!