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Updated over 1 year ago,
how to structure offer on replacement properties for 1031 exchange
I'm wondering how to structure an offer on an exchange property when it is contingent on the sale of the 1031 property.
What contingencies should I include in my offer on the replacement properties? Should I make the offer to close after the expected sale but contingent only on a pass fail inspection? What if the 1031 falls through? I'm confused about when I make the offer and get an acceptance on the replacement property --before I even sell the 1031 property? So ideally I close on the replacement property immediately after the 1031 property sale, and I already own the replacement property before I even list it during the 45 day window?
This is really confusing to me. I am going to have to exchange for a number of other properties so this is getting complicated. Any advice is appreciated .