Is there a penalty if you don’t find another property with 1031E?

[Jake Adams]

I am selling a property and considering during a 1031E. I have search a few places and can’t find out if there is a penalty if I am unable to find another property with 45 day or close in the 180. Thanks in advance.

[Basit Siddiqi]

@Jake Adams

The Intermediary will be paid if you go through with the 1031 or not.

If you don't go through with the 1031, you have to report the gain(and pay the tax).
If your 1031 falls through, you may be able to put your money into a QOF as a backup plan.