All Forum Posts by: Brandon Priest

Summary of transaction: I want to purchase a vacant piece of land and utilize a "Reverse/Construction 1031" in which I will be selling a rental home.  

My problem is that I won't be able to get permits required timely enough to get the construction costs into the 1031 transaction.  The seller of the vacant land cannot extend the sale.

Can I use a 3rd party to purchase and hold the vacant land and later sell it to me when I am ready to start construction?  This would delay the start of the 180-day window and I believe the only added costs would be excise tax on the transitional sale as well as escrow/title fees.