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Updated about 8 years ago on . Most recent reply

User Stats

105
Posts
15
Votes
Maria A A.
  • Investor
  • Reno, NV
15
Votes |
105
Posts

1031 deferred exchange challenges

Maria A A.
  • Investor
  • Reno, NV
Posted

i am relatively new to BP & have a pending 1031 exchange involving CA(property to be sold), & out of state (replacement properties -still looking). How do you synchronize the timing?I am looking at some turnkey properties that possibly must close before the calif property closes but dont want a reverse exchange bcz it is complicated & needlessly expensive..but am afraid of losing out on the 1031 benefits by not being able to identify enough replacement properties in the 45 day after close of sale period. It was suggested that a delayed closing be requested, but what if the buyer of old property & seller of new property refuse?Due to medical challenges i am limited to making a decision relying solely on email, phone call, & BP input. Quite scary. Potential list price of my CA property is $620K. Thanks.

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