QI for 1031 exchange... Does location matter?

[Bob Foglia]

I will be selling a rental house for the first time and have a 1031 question... The selling property is in western Colorado and I plan to purchase in Northern Arizona... Should I look for a QI close to one of the two properties, or does that matter? 

I am selling the Colorado property to the current tenants without going through a realtor... so I will need legal help there anyway if that makes any difference? 

[Dave Foster]

@Bob Foglia, Since the 1031 is a federal statute it's practiced the same way in all states.  So your QIs location isn't really going to matter as long as they have the experience in general.  Especially since both AZ and CO are both typical title company closing states.  As the market has.grown so much in recent years it's actually more common for clients to close sales in one state and purchase in another.  

The biggest key though is that the QI be in place prior to the closing of the sale.  Once you get that in place they should be your guide and the interface with the title co for the 1031.