All Forum Posts by: Sarah Minor

Thanks for your kind reply. They wanted to do that but it would mean it wouldn't clear for up to 21 days. I just have never heard of this kind of experience and am wondering if others have run into any debacle like this.

SOS......I closed on my investment property last Thursday, lawyer, title co, realtors paid and keys handed over to buyer but the wire from the bank ( the title company uses) keeps getting rejected by my investment company.  The processor keeps making mistakes with the wire with spelling errors etc and now they say the two software systems Bank and investment company cannot integrate.  What? Who is responsible for paying the interest I am losing during these 5 days.  I am at a complete loss.....should I call the atty general of NH?  I have never heard of such a case.  I have no house and no money from the sale!

I have a question regarding timing.  Here is the scenario.  If I sell my investment property for 1.3 and the strike value is 1.1 for replacement property, there will be a 200k taxable boot.  My question is this.....when does one actually receive the boot money minus the taxes owed for cap gain?  Does it get paid at the closing of my relinquished property or at the closing of the replacement property?  I hope that makes sense.  Thanks for any information regarding this situation. 

Question. So we have identified and signed a P and S for a new property to be constructed  by July 1, 2024 with a drop dead completion date of Nov 1,2024.  I spoke with the realtor selling my relinquished property yesterday and he feels that we can meet the 6 month deadline with ease, when putting our house in a very desirable area on the Market in the Spring. In theory, it could be listed on March 1 with a closing date of April 30 and even if we had to wait until an Oct closing for newly constructed property we would meet the 6 month requirement for exchange.  He also said that it is possible to get an extension for the 1031 in this case, which is not what my QI had indicated.  Does anybody have experience with this kind of situation?  Thanks in advance.

Sarah