It should be noted that there are no state or federal regulations governing the conduct of intermediaries, other than the fiduciary responsibilities that govern entities that are entrusted with holding funds of others. For this reason, selecting an intermediary for you or your client’s exchange is an important process. Select the intermediary as you would an attorney or physician. Look for experience and reputation in the legal, real estate and title company communities. Speak with escrow officers who handle exchanges and get their opinion. Choose an intermediary who is thoroughly familiar with the tax code, since many times other sections of the code will bear significantly on your exchange. Ask about security of funds, and what options are available to safeguard the funds during the period the intermediary holds the proceeds of the sale. Although the fees charged by the intermediary are insignificant when compared with the income tax savings, they are important. Ask about fees and how they are paid. With a few notable exceptions, fees are very similar from one intermediary to the next. What is of far greater importance is the experience, knowledge, background and expertise of the exchange company and its personnel.

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: