Southern Idaho 1031 recommendation
Hi All,
My better half and I are going to enter into a 1031 exchange this summer. We are newbies and this will be our first exchange. The surrender house is in Twin Falls and looking to acquire another investment property up in Meridian(where we currently reside) or purchase a cabin for a short term vacation rental in the Crouch area. Can you Idaho guys recommend a good title company to assist in this transaction? We were looking into Pioneer Title but they no longer have an office in Twin Falls. Was told it would be more expensive to complete the exchange if you have two different title companies completing the transactions. Is this true? House will probably on the market in mid July in Twin Falls.
Thanks for all the help in advance. Love the forums and of course the podcasts!
Most Popular Reply
- Qualified Intermediary for 1031 Exchanges
- St. Petersburg, FL
- 9,636
- Votes |
- 9,371
- Posts
@Brian Winn, The 1031 is a sale and a purchase. From the QI perspective there has to be two transactions and we always prepare for both so there's no extra charge because there's still two closings.
Same is probably true for your title company. I can maybe see where there could be a discount of sorts from a title company that gets to handle two transactions but doubt if it's much.
- Dave Foster
