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Step-By-Step Instructions to Complete Your 1031 Exchange

The following is a general check list for completing your 1031 exchange: 

Relinquished Property

  • Consult with your legal, financial and tax advisors before proceeding
  • Notify your real estate agent and escrow or closing officer that you will be completing a 1031 exchange
  • Insert Cooperation Clause language into your Purchase and Sale Agreement and/or Escrow Instructions
  • Contact and retain Exeter as your Qualified Intermediary to open your 1031 exchange
  • Provide Exeter your complete contact information
  • Notify Exeter if you are going to be withdrawing any cash from your 1031 exchange
  • Notify Exeter if there will be a seller carry-back note involved in your 1031 exchange
  • Notify Exeter if there will be any construction involved on your replacement property as part of your 1031 exchange
  • Execute your 1031 exchange documents
  • Notify Exeter when your relinquished property sale closes
  • Look for written notification from Exeter when we receive your 1031 exchange proceeds

Replacement Property

  • Mail, fax or hand deliver your signed identification form to Exeter within your 45-day identification period
  • Notify your real estate agent and escrow or closing officer that you are completing a 1031 exchange
  • Insert Cooperation Clause language into your Purchase and Sale Agreement and/or Escrow Instructions
  • Advise Exeter of the specific replacement property on your identification list that you will be acquiring and who will be handling the closing
  • Execute your 1031 exchange documents
  • Notify Exeter if you wish to have the earnest money deposit paid from your 1031 exchange account
  • Authorize Exeter to disburse your funds to your escrow or closing officer to complete your transaction

A Guide to 1031 Exchanges 

You can also download A Guide to 1031 Exchanges that will walk you through these step-by-step instructions for starting and completing your 1031 exchange transaction as well as provide the basic information that you need to understand the 1031 exchange process. 

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