Does an agent have to disclosed purchase is part of 1031?

[Michelle Meyer]

Hello,

Buying a property as part of a 1031 exchange, trying to go on contract with closing on the replacement property 2 days after closing of the relinquishing property.  Trying to avoid issues with the time lines of the 1031 that way.

On offers for the replacement properties, does an agent have to disclosed that this purchase is to be part of a 1031?

or is that just relevant, if we were under the ticker of the 45 days to identify? and 180 days to close?

Basically, if for some reason I closed on my relinquishing property and 2 days after, the replacement property does close, not sure why, could we at that time say... "hey we agree clearly on all things and now we have to close within 180 days or else"

my agent is saying it is the law to disclosed we are part of a 1031 and I am worried the sellers might see that and identify potential things they can use as leverage on their favor.

thanks  for your time

[Dave Foster]

@Michelle Meyer, Good plan to get a jump on the timelines!!  All parties to the transaction have to be notified that a 1031 is occurring.  But there is so specific regulation on when that has to be.  We provide all of the necessary notifications at the closing so if you want to keep it anonymous you can.  

Many local board of realtor contracts already have an addendum baked into their templates.  So it really doesn't matter.  And if all you do is make the contract assignable that will allow your intermediary to do everything they need for the 1031.