Standard 1031 rules and deadlines still apply, which can be tricky when you're building a new property from the ground up (ie you have 180 days from the day you close on the sale of your current prop to complete construction of the new one).

As an s corp you need to be paying payroll taxes and owners are considered employees for that purpose..just pointing it out because taxes should be withheld from the paychecks and remitted to the state/fed...check with your CPA right away so you don't miss filing deadlines...

@Parker Sanburn, I have a 6/24 book deadline and swamped with last minute work on that.

I’m an agent and one of my recent clients got a VA loan with NXT Mortgage- Tyler was very responsive at all hours and did the VA loan in our tight 3 week timeframe.

Since cash flow has been tight and can't plan that far ahead, right now, the workaround to save the 6 business days  (which is often 8 real dasy) is for my management company to email me a check draft that I deposit to LCNB with mobile.

If the buyer worked through and agent, more than likely they would not be in this position unless they missed a deadline for inspection, etc.

For most those numbers are really tight.

My deadline to close on the property is July 10th (Two weeks) and the owner said he has a cash buyer lined up.

My lawyer next sent a demand letter with the total amount, and after weeks of no response, he finally at the deadline dated by the lawyer, indicated that the wire transfer was put through to my lawyers account.

As mentioned, though, you need a tight agreement if things go wrong.