1031 Timeline

1. Always, always, always consult with you CPA and/or attorney/legal counsel. 

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2. Call Sterling Exchanges to get your exchange started. The main pieces of information we will need are a) The address of the property that you are selling/buying first b) The name of your escrow/closing officer that you are using c) The name of your realtor and/or legal counsel that you are using to assist you in your transaction. 

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3. Be sure to mention your intent to exchange in your purchase and sale agreement. 

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4. Sterling Exchanges will begin the proper paperwork to document your exchange. Once you close escrow on the first property you exchanging first, your 45 day timeline to identify your next property will start. 

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5. After your identification period is up, you will have 135 days (for a total of 180 days from the close of your first property) to close escrow on one or more properties that you have identified.