1031 order of operation hypotehtical...

[Michael Klinger]

I am just now going on the market to sell owner/user office. I expect I will 1031 to multifamily. That is my conclusion on replacement type after researching all options for the last few years. I have a pretty good grasp of the the 1031 rules. One area of fuzziness:

Can I...

Explore replacement properties, and if I found a good one, go so far as getting into a contract on a replacement property during the escrow period of my current property?

Then if all seems smooth and happy with that deal, circle back and identify one I have  in contract one before the 45 days, rather that burning one of my picks (in the event that the deal dies)?

Or do I have to identify first, then contract?

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