Does an offer satisfy the identification requirement?

[Konrad R.]

Does an offer satisfy the identification requirement for the 45 day timeline?

What if the offer was not accepted and the property goes back on the market? If a second attempt was made after the 45 day timeline, would it still be considered identified since an offer was made prior?

[Bill Exeter]

Originally posted by @Konrad R.:

Does an offer satisfy the identification requirement for the 45 day timeline?

What if the offer was not accepted and the property goes back on the market? If a second attempt was made after the 45 day timeline, would it still be considered identified since an offer was made prior?

Technically, no.  The Treasury Regulations require that you identify to a party to the 1031 Exchange transaction.  The only two parties that are part of the 1031 Exchange Agreement are you and the Qualified Intermediary, so the only safe way to identify your replacement properties is to identify to your Qualified Intermediary.

If for some reason you did not identify to the Qualified Intermediary or missed the deadline, then you can always try this as an argument should you get audited, but if the identification was not provided to the Qualified Intermediary there is no other "safe" way to do it. 

The property would qualify at any time during the 180 calendar day exchange period as long as it was properly identified to the Qualified Intermediary.  Any other method or strategy is subject to risk of audit.