Found a great deal on a replacement property? Seller would like to close
quickly?
A Reverse 1031 Exchange may be just what you’re looking for!
These are simplified explanations and there are potential pitfalls to
look out for.
Please contact our Reverse Exchange Department by phone, 866-944-1031 ext. 306
or via email for a
comprehensive recommendation for your particular situation.
A Reverse 1031 Exchange allows you to purchase and close on a replacement
property before the relinquished
property is sold or even under contract if you follow the rules.
 1. All Cash
This method is as the name implies. The purchase is made with cash
on hand. The funds for the purchase can be money from a refinancing
or with available cash on hand.
2. Parking Method
This method allows the purchaser to finance a replacement property with
a traditional
mortgage.
With this method the title of the Relinquished property is deeded to
the Accommodator
before the close of escrow on the replacement property. When the Relinquished
property
is sold, the exchange is over.
 3. Financing
Although difficult to find, a few lenders will, on occasion, finance
a
Reverse 1031 Exchange. Many lenders do not fully understand Reverse
1031 Exchanges and if approved often carry higher interest rates. |
