It is important that any exchange be carefully planned with the assistance of an experienced and competent financial advisor (attorney, cpa, or other trusted advisor), preferably one who is completely familiar with the tax code in general, not just Section §1031. There is no substitute for good tax planning. Once it has been determined that a 1031 exchange is the best strategy, working with an experienced Qualified Intermediary is the next step.

Once the planning is complete, structure and timing are implemented, the relinquished property is sold, escrow is closed, and the intermediary becomes the repository for the proceeds of the sale. The funds are kept in the intermediary’s trust account until the replacement property is located and instructions are received to complete the exchange and acquire the replacement property. The funds are wired to the settlement agent and the property is acquired in the name of the investor. The exchange agreement, assignment agreement and supplemental closing instructions are prepared and delivered to escrow by the intermediary.

Open an Exchange

Bankers Exchange Services has offices in Walnut Creek and Oakland and serves the Greater Bay Area and in particular, the East Bay region and will gladly facilitate your real estate 1031 exchange transaction anywhere in the United State or US Territories.  Bankers Exchange Services also offers specialized expertise in the following communities: