1031 Exchanges
Market News & Data
General Info
Real Estate Strategies
Short-Term & Vacation Rental Discussions
presented by
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Tax, SDIRAs & Cost Segregation
presented by
1031 Exchanges
presented by
Real Estate Classifieds
Reviews & Feedback
Updated almost 7 years ago,
Letter of intent on new property
Hi,
I want to do a 1031 exchange on an investment property I will have held for 2 years as of 4/1/18.
First, should I wait until after that date to enter into a realtor contract to sell the property to insure that I get the presumption that my intent has been to hold it as an investment property? It was previously my primary residence before renting it out.
Second, I have identified a property that I would like to acquire with the proceeds of the exchange. If I enter negotiations and submit a letter of intent to the sellers BEFORE the relinguished property is under contract, will that invalidate the 1031.
Thx!