Working with an Intermediary


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             Real Estate Exchanging

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                           Four (4) Simple Steps to Follow

1.) Fax or mail the sales contract to the "Qualified Intermediary"

2.) The "Qualified Intermediary" will then return an exchange agreement for you to sign.

You return the signed exchange contract to the "Qualified Intermediary" and it is delivered to the title company which is handling your closing.

3.) The "Qualified Intermediary" will escrow the sales proceeds in a restricted account.

You have 45 days to identify replacement property using a form that the "Qualified Intermediary" provides.

You have 180 days to close on that property.

4.) You give the "Qualified Intermediary" the closing information and the bank makes out a check payable to the title company handling the closing on the replacement property.

If there are any remaining funds, a check is made out to you and taxes will be due on this amount for that taxable year.


You must want to relinquish investment property and to replace it with other investment property.

Generally, any investment property is exchangeable with any other investment property regardless of use.

You must acquire replacement property within 180 days.

By using a "Qualified Intermediary" you carry forward the tax basis from the relinquished property.

The gain is assessed in the future when property is liquidated for cash.

Due to the tax efficiency of this type of transaction most individuals replace the property with one that is at least as valuable as the one sold if not more.

The Wonderful World of Real Estate

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