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Updated over 7 years ago on . Most recent reply

James Weddington's profile image
James Weddington's profile image
James Weddington
  • Investor
  • from Manteca, California
  • Member since Aug 21, 2017
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James Weddington's profile image
James Weddington's profile image
James Weddington
  • Investor
  • from Manteca, California
  • Member since Aug 21, 2017
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James Weddington
  • Investor
  • Manteca, CA
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Buying & Selling Real Estate

Wrong Square Footage

James Weddington
  • Investor
  • Manteca, CA
Posted

I live in California. I purchased a home for $285,000, 3 bd 2 bth 1920 sq ft. My new property is in escrow and closes on Oct 10, 2017. I used my 1031 towards the purchase. My bank has come up with a different square footage of the property than the seller/agent listed, short 500 sq ft. If I back out, I will loose $20,000 in taxes because of the time limit on my 1031. What advice would you give me?

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