Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. Cancel anytime.
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 1 year ago on . Most recent reply

User Stats

2
Posts
0
Votes
David Blaine
  • Investor
  • Arlington, TX
0
Votes |
2
Posts

CPA can refer 1031 client - how to compensate CPA?

David Blaine
  • Investor
  • Arlington, TX
Posted

Hi all, thanks for helping.

A chance discussion led to a contact with a CPA whose client may have 1031 proceeds in the near future, and I have acreage available, free and clear and not listed so no agents/brokers involved. My property is in Arkansas and so is CPA and client, and I have not met the client. The CPA and client have a long history together and the CPA states that my property will be of interest to his client. The CPA will be compensated for referral, just not sure of best method. I believe the cleanest solution is the CPA to first have his client sign an agreement for a fee paid to CPA. Their agreement can use any term they agree on instead of "referral", maybe financial strategery advisement or something. They can then have an attorney create a purchase contract with 1031 appropriate language, intermediary etc. 

I was previously a Realtor for several years in NV but not familiar with a transaction like this. The CPA is concerned that getting a fee/compensation could be construed as acting in the capacity of an agent/licensee.  If you are experienced with this situation or just know the answer, I would appreciate your help.

Loading replies...